A Collection of Articles, Opinions, and Research on the Economy.
This video provides a very simplified, yet very useful explanation of how the economy works. The fact that competition drives innovation is a dangerous truth of our economy today. Anybody can come along and make an improved version of your good/service. Despite the mass dissent against a central government, most people understand that without the government, markets are better off.
Markets were originally created by necessity. The first markets were created because of a need for survival; some people had the ability to hunt or gather, and others were able to provide assistance. The best way for both parties to benefit from everyone's skills is to trade. This way, not everyone has to be good at everything. With markets, it is possible for one to specialize in one skill and use this to get whatever else is needed.
Cave-o-nomics is a very beneficial video into understanding the evolution of the market place as a whole. Just as Carter indicates markets originally were based upon necessity. As our society has became more and more technological advanced, it has created a very competitive market place. Basically its who can make the biggest and best thing to meet the wants and needs of society ie cell phones and computers. In order to obtain this goal and meeting the regulations of the third party, one can specialize in a certain expertize to contribute to the market. It's an everlasting circle.
The practice of economics originated with trade commerce well over 40,000 years ago. The system incentivized productivity, low prices and competition to be the best in the field. Beginning with simple commerce, the market eventually evolved into the intricate system it is today that focuses on services as well as goods. In today’s world it is necessary for the government to act as a policing force in order to create an equal free-market and maintain faith in the system.
As Carter and Matthew have said, the markets were created out of necessity. Markets are necessary for the development and benefit of humanity through its ability to produce innovation through competition. With that being said, it is important to understand how the economy works and to create sound economic policies in order to maintain economic stability in the free market.
I thoroughly enjoyed watching this video because it was able to put economics in very simple terms and show me where, how, and why markets were originally created. I think it is really cool to look back at why markets were created and see how they have turned into much more complex markets in our world today.
Simple and to the point. A logical representation of a decently logical concept that not many of us stop to think about.
Economy is a big part of our lives! As we can see from the video economy came from the needs of people, because none of us have the ability to always take a good care for ourselves. From here, market was created, yet invented. It is very cool that we could see how market change over time, but to know what is the original was very interesting and useful.
This video offers a very simplified view into economics. By showing us that necessity created the market place, and that competition is the driving force, the video is a useful introduction into the basics of economics. Like the video also briefly explained, governments play a large role in dictating the rules of the economy and ensuring it runs properly (although sometimes corruption does occur) through policies and regulations.
I think the video does a good job at taking a huge idea (such as the economy of the free world today) and breaking it down into simpler terms with easy to understand models (the visuals definitely helped as well). I'm glad that it mentioned how sometimes the government is corrupted by parts of the economy because I feel like there is more to it than this simplistic view. I think a lot of things go on "behind the curtain" so to speak that greatly influence the economy that not everyone may know about or understand. But I definitely think this video provides a great starting point.
I liked the way this video used an amusing prehistoric example to summarize how the economy works. Although the video might not be historically correct, it’s simplified and humorous, making it enjoyable to learn the basic elements of the modern market economy. The reality is that Ugg, Glugg, and Tugg are ancient entrepreneurs, and maybe the video could have touched on that topic more and how it relates to today’s society.
This video is able to give a simple, overall idea of how a market economy works. It shows how markets came to be and how simple trades turned in to large economies. We are able to see how even simple trades can be very important. I thought it was a good point that innovation really stimulates an economy. This video was also beneficial that it explains that there needs to be a regulator in the economy so no one person or corporation holds all the power. Overall this video was easy to understand and simplifies large and sometimes complex ideas about economics.
I thought this video did a great job of explaining how such a complex practice works. Our economy is affected by every decision consumers and producers make in spending their money. I thought it was important that they discussed how we cannot help the poor, middle class, or top 1% without hurting/affecting another class. I also enjoyed that the video touched on how the government is involved in the economy and how that effects it. It also explained the importance of having regulations which I think is a key component to a healthy economy.