Episode One: Economic Freedom & Quality of Life

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Economic Freedom and Quality of Life is a short, informative video centered on the ideas of economic freedom and the societal benefits it produces. The video helps explain what economic freedom is and why it's key to improving society.

Watch Episode Two: Economic Freedom and America Today at http://youtu.be/F4fWQnguR1E

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[bmac6446]

It is a matter of historical fact: The more free the markets the more free the people.

[jefeller]

International trade helps gains by specialization through trade. If we specialize in making one cars and another country specializes in making clocks, we can trade them cars for clocks and make it more efficiently for everyone. Both parties actually gain from it cause they don't have to waste time trying to do two products, they become an expert in making one.

This has been a brief explanation of gains from trade.

Free trade, free people.

[jeffd841]

Video has a hidden plutocratic agenda (small government). I especially like the backwards qualitative meaurement on the X-axis of this graph. This video pulls at the heartstrings of the masses that don't understand macroeconomics; the one's that pray to Ayn Rand and Adam Smith. The fact remains most robust economies have stringent economic regulations and for good reason. Removing regulations like Glass-Steagall are clear cut examples of rampant cowboy capitalism and the consequential outcomes.

[thegreatapologist]

Actually, it doesn't. The forty hour work week has been established to promote the most efficient working environment.

[SanderX0]

1:12 Cleaner environments in the free countries? Yeah because the free countries produce their products in less free/more free countries which pollutes the environment there.

[reewsan]

This movie is sooooo biased. Even though I like economic freedom I feel really ill watching this crap.

[santixdom]

This is also the way for world peace, because you don't want to bomb the guy who is both your supplier and your custommer.

[My1Tubes1]

164 Socialists did not like this video, and would like to be part of the Politburo of one of the countries with execrable standards of living.

[jefeller]

Why would that improve efficiency? (it depends) You are making an assumption here and bringing emotion into the argument unnecessarily.

In a free market, skilled laborers (to any degree) may command higher wages and work environments or vote with their feet and leave. It goes back to the brilliance of capitalism being that all actions are beneficial to both parties because everything is purely voluntary--this means if labor does not benefit both parties fairly, it does not exist.

[alexjohnc3]

It also improves efficiency to have people work longer hours with little pay. Does that make it a desirable thing?

[jefeller]

That's one of the oldest and most elementary arguments against gains from specialization. Free markets eliminate shortages, surpluses, and inefficiencies through competition. This includes the labor market.

For ex. China has a surplus of unskilled labor as we in the United States have a surplus in capital (K) and entrepreneurship. Most all job losses to China improve aggregate efficiency because it is wasteful of us use our precious labor force on manufacturing things like mc donalds toys.

[alexjohnc3]

What about countries competing based on lowering wages, employing child labor, forcing their employees to use dangerous chemicals, etc.? These countries might not be economically "free," but their low labor standards are what allow our country to be. After all, what's the harm in trading with everyone when it just means looking for the country with the cheapest work force? (Aside from domestic job loss and a lowering of our own standards/incomes, of course.)