Fourteenth lecture of Principles of Economics explores credit and banking as the institutions that channel savings into investment, how commodity credit emerges from real savings, while circulation credit comes from money creation, why interest rates reflect time preference, and whether interest can be eliminated with hard money. Get all course notes and sli ... Show More
Apr 28
323. Principles of Economics Lecture 13: Time Preference
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 p ... Show More
42m 9s
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