Curated Video
Understanding Deflation and Its Consequences
This video provides an explanation of what deflation is and the consequences that come with it, which includes a reduction in real output, consumption, and investment. The speaker uses Japan as an example of an economy that has suffered...
Curated Video
Understanding the Different Types of Unemployment in Economics
In this video, the speaker discusses the different types of unemployment in economics and provides explanations and examples for each one. The four main types of unemployment discussed are cyclical unemployment, seasonal unemployment,...
Curated Video
The Three Functions of Prices in a Market Economy
The video discusses the role of prices in a market economy and how they serve three main functions: rationing goods, providing incentives to economic agents, and signaling the state of a market. It explains how the price mechanism works...
Institute for New Economic Thinking
Narrative as Destiny: Steering Markets and Innovation to Serve Society
Tim O’Reilly, founder and publisher of O’Reilly Media, technology thought leader, and investor known to many as the “conscience of Silicon Valley,” brings a lens of storyteller to explore the role of technology and economics in today’s...
Institute for New Economic Thinking
What Financial Regulators Can Learn from Network Theory
When regulators seek to identify systemically important financial institutions (SIFIs), they tend to focus on an institution's size and connectedness. But this approach mises an important dimension of systemic risk, according to Imre...
Institute for New Economic Thinking
The Discreet Charm of the Bourgeoisie?
Capitalism may not be much in fashion among younger Americans these days, but renowned University of Illinois at Chicago economist Deirdre McCloskey believes the system holds the key to expanded prosperity and human liberation. In this...
Curated Video
The Best Way to Measure Inequality
Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong. James K. Galbraith, the Lloyd M. Bentsen Jr. Chair of Government/Business Relations at the Lyndon B....
Institute for New Economic Thinking
David Weinstein - When Banks Fail, the Case of Japan
What happens to Main Street when Wall Street fails? Japan expert David Weinstein squeezes a unique data set to answer this question. While in the US you will find data on banks and data on firms separately, in Japan there's data that...
Institute for New Economic Thinking
Can Economics Be a Value Neutral Science?
INET President Rob Johnson talks with Michael Sandel about the consequences of financialization, and how economics' obsession with self-interest has failed society.
ACDC Leadership
The Shut Down Rule- Old Version
My 60 second explanation of the shut down rule. When the price falls below AVC a firm should shut down and produce nothing. It is better for them to take their fixed costs as a loss then to continue to produce.
Institute for New Economic Thinking
‘Stratification’ Theory Tackles the Racial Blindspots of Orthodox Economics
Economist Darrick Hamilton and Institute President Rob Johnson discuss “stratification economics”, which addresses the failure of orthodox economics to see, explain and point to remedies for persistent racial inequality.
Institute for New Economic Thinking
The Economics Analogy to the Revolution in Physics - Martin Wolf
Economics is poised to go through a process similar to what physics did in the early 20th century when the Theory of Relativity superseded Newtonian physics, but did not negate it.
ACDC Leadership
Graphing Practice- AD/AS and the Phillips Curve
In this video I explain how to show recession and inflation on four different models: AD and AS, Phillips Curve, PPC, and Business Cycle. Enjoy!
PBS
The Ugly Truth About Airline Miles
That "free" vacation might be costing you a lot more than you think...
Curated Video
Understanding Government Failure in Economics
This video discusses the concept of government failure and why it occurs in certain situations where a government intervention has a harmful effect on society's welfare despite being intended to improve it. The video provides examples of...
ACDC Leadership
Bank Balance Sheets Practice- Macro 4:13
In this video I explain what a bank balance sheet is and help you practice calculating the reserve ratio, the required reserves, the excess reserves, and the total change in the money supply. Remember that the total change in the money...
Curated Video
Competition Policy: Principles and Practices in the UK
This video introduces the topic of competition policy and explains why governments are interested in promoting competition. It outlines the benefits of competition, such as lower prices for consumers and the idea of consumer sovereignty....
Curated Video
Individual and Market Supply Curves: Understanding the Differences and Deriving the Market Curve
This video is about individual supply curves and market supply curves in the context of economics. It explains how each firm within an industry decides on how much of a given product they want to produce and sell at different prices, and...
Curated Video
Introduction to AD-AS Diagrams and Analysis
This video is an introduction to AD/AS diagrams in macroeconomics. The video covers three separate curves in these diagrams, including the aggregate demand curve, the short-run aggregate supply curve, and the long-run aggregate supply...
Curated Video
Evaluating the Microeconomic Concept of Merit Goods
In this video, the presenter explains how merit goods are under-provided and under-consumed by the market and discusses the positive consumption externality that leads to market failure. The video then evaluates the size of the market...
Curated Video
Evaluating the Macroeconomic Concept of Monetary Policy
This video is an educational session on macroeconomics, focusing specifically on the concept of monetary policy. The video examines the impact of an increase in interest rates, discussing its impact on inflation, output, and economic...
Institute for New Economic Thinking
Duncan Foley: Macroeconomic Management After a Crisis (1/7)
The video shows the panel Macroeconomic Management After a Financial Crisis at INET's Bretton Woods Conference on April 9, 2011. The speaker in this segment is Duncan Foley, Professor at the New School for Social Research. The other...
Institute for New Economic Thinking
Roger Guesnerie: What Can Economists Know? 3/5
Roger Guesnerie, Professor of Economic Theory and Social Organization, Paris School of Economics speaks on panel entitled "What Can Economists Know: Rethinking the Foundations of Economic Understanding at the Institute for New Economic...
Institute for New Economic Thinking
Why We Need a Multidisciplinary Economics
Economics hasn’t changed much in response to sociology, psychology, and other social sciences. Alan Kirman, professor emeritus of Economics at the University of Aix-Marseille III and at the Ecole des Hautes Etudes en Sciences Sociales,...