"Trade Is Made of Win," Part 1: Wealth Creation

How does trading make people better off? Economics professor Art Carden explains in this quick lesson on one of the most important concepts in Economics 101: trade creates wealth. Part 1 of 3.

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[Shudzy Siegel]

Fritz-Hayek, Lou-Mises?

[nobleheight]

Trading wives is made of win.

[Bruce Wayne]

Yes it does. Say I can grow 2 crops with your fertilizer and I trade 3 crops for 3 fertilizers, I can grow 6 fertilizers and my wealth increases. But say 0.5 crops are required to create one fertilizer, then you win too and your wealth increases. So the net wealth increases. The wealth would not increase if we kept it to ourselves.

[dietsnapple89]

Value is not created unless a new commodity is produced. Production of more goods and services creates wealth not exchanging two goods for mutual benefit. Exchange is a zero-sum game, where the total value of the system is constant unless more commodities are produced for use and exchange. Benefit does not equal value.

[alexanderheritage]

Just because libertarians recognize that the free market has done more to raise people out of poverty (scientific fact by the way) than any other system you want to impose upon people (usually with a sword, in people like you) doesn't mean they don't give a shit about the people at the bottom of the scale. Doesn't mean they don't e.g. buy fair trade.

That is a collosal fallcy. Hurr dur x = y so therefore you're a greedy fuck.

Not sure if troll or just stupid....No wait, you are just stupid.

[alexanderheritage]

But neither side WOULD have traded if they didn't value the product the other man had that they didn't. THEY BOTH BENEFITED. Additional wealth is created by growth in each mans case, but who uses what and were it is most wanted is a process of trade.

Obvious French people value the wine they have less than the foreign currencies they get for it. That's why they export most of what they grow. Same goes for everything.

[dietsnapple89]

but the total value in the system didn't increase

[Hoschi0913]

how about you ? do you trade ?

[LucisFerre1]

[[ Those millions of poor feel the same way about your smug, greedy ass.]]

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Not surrendering what I've earned is not "greedy". I give to charity because I want to, not because I'm obligated to. And BTW, if I kept every penny I earned, it would be perfectly moral to do so. There is no such thing as the right to the unearned and undeserved. I give to charity because morality is compassion & empathy for the innocent. I am not morally obligated to surrender my property. Do you know the difference?

[LucisFerre1]

You missed the point. I am part owner of a free to attend school for children in Issan Thailand. I and three blokes from England finance it out of our pockets. I also give to various Thai orphanages. I do that because I want to, not because society has a first mortgage on my life. Society does not own me. So your implication that want holds precedent above all other matters falls apart when one considers that a thief "wants" my money, but that doesn't mean he has a moral right to it.

[dark7element]

Ah ha ha, here we go. Libertarians who make videos take pains to make their message seem positive and palatable, but their more emotional brethren, like you, inevitably enlighten people as to the true meaning of their ideology: "Fuck you, got mine."

In other words, you believe that anyone who isn't useful to you personally, or to the 'free market' you worship, should just crawl into the gutter and die. Well, guess what? Those millions of poor feel the same way about your smug, greedy ass.