Thirteenth lecture of Principles of Economics explores time preference as the rate at which individuals discount the future, how property rights and hard money reduce uncertainty and lower time preference, enabling saving and investment, and why the progressive lowering of time preference is the driving force behind capital accumulation and the process of ci ... Show More
Apr 21
322. Principles of Economics Lecture 12: Capitalism
Twelfth lecture of Principles of Economics explores capitalism as the system of private ownership of capital goods, how free capital markets allocate resources to their most productive uses through profit and loss, why economic calculation requires private property, and why socia ... Show More
58m 46s
Apr 7
320. Principles of Economics Lecture 10: Money
Tenth lecture of Principles of Economics explores money as the most salable good, how it emerges from trade, solves the coincidence-of-wants problem, enables calculation and specialization, preserves value across time, and why hardness matters more than quantity.Get all course no ... Show More
1h 34m