Economics on One Foot
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Uploaded by LearnLiberty on Sep 27, 2011
Watch more videos: http://lrnlbty.co/y5tTcY
How quickly could you sum up the principles of economics? While standing on one foot, Prof. Art Carden discusses the following economic principles in just over two minutes:
● Individuals strive to achieve their goals in the best ways possible.
● Every action has a cost.
● Incentives matter.
● Value is determined on the margin.
● Profits and losses help gauge value creation and destruction.
● Government interventions often have unintended and undesirable consequences.
This video is partially inspired by Ayn Rand's philosophy on one foot: http://www.aynrand.org/site/PageServer?pagename=objectivism_intro
- 472 likes, 25 dislikes
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That's one way to keep an economist from talking too long...
runryrorun 1 day ago
lol i play an advanced song on guitar on one foot for 7min :D
rgg3107 1 day ago
@Amicus405 lol i play an advanced song on guitar for 7min one one foot :D
rgg3107 1 day ago
I think I'm more impressed that he was able to stand on one foot so effortlessly for so long
Amicus405 2 days ago in playlist Favorites
awww, economics the most important part of politics one could argue. and fucking boring as hell.
CombatMedicBuddy 2 days ago
@ApocDevTeam So you don't disagree with my strawman arguments? So you agree with my sentiment that getting rid of minimum wage doesn't get children out of poverty? You agree that the minimum wage have nothing to do with people "sitting at home with no job at all"?
uiluj13 3 days ago
@uiluj13
hey look, more strawmen!
ApocDevTeam 3 days ago
@ApocDevTeam You basically implied that children should get jobs instead of doing homework and getting a better education in order to break the vicious cycle of poverty. You also implied that getting a low wage job will get you out of poverty. LOL at children in chinese sweatshops. OPS I meant American sweatshops.
uiluj13 3 days ago
@uiluj13
do you have anything else besides strawman arguments?
ApocDevTeam 3 days ago
@ApocDevTeam Only a libertarian would argue that children should spend their time working instead of getting an education.
uiluj13 3 days ago