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Basic Economics- Thomas Sowell

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  1. Basic economics

    # Part 1 – Prices and markets
    ## Chapter 2 – The role of prices (17:48)

  2. 4:33:00

  3. Alternate title: Why Communism Sucks in 176,000 words

  4. The rent control information is mind boggling.

  5. 3:18:00

  6. 2:48:00

  7. 2:33:00

  8. Trying to be more smarterer
    First attempt

  9. Thanks for the upload.

  10. This book summarised in one sentence "From the standpoint of the economy as a whole what is important is the efficient allocation of scarce resources which have alternative uses."

  11. As with most things, the truth is obfuscated in plain sight, due to the willful ignorance and general apathy of the public. 26 comments,14 thousand views. If only the public would learn basic economics…

  12. What happens when prices can not fluctuate with supply and demand because the same 5 companies own all basic necessities? I couldn’t find that anywhere in this book.

  13. Is this 5th edition or 4th? make it clear in the title or description

  14. This book is the definition of trying to sound smart and other people making a cult around it.

  15. Dr. Sewell is a national treasure

  16. "Society as a whole always has to pay the full cost, regardless of what prices are or are not charged to individuals."

  17. This book goes pretty hard ngl

  18. This is a treasure. Thank you.

  19. 2:23:47 I'm not sure arriving in Florida can be considered safe.

  20. Basic economics
    5:06:50 – Chapter7(The economics of big business)
    5:08:48 – Corporations
    5:13:12 – Corporate governance
    5:20:00 – Executive compensation
    5:22:12 – Monopolies and cartels
    5:25:00 – Monopoly prices vs competitive prices
    5:34:30 – Governmental and market responses

    5:39:38 – Chapter 8(Regulation and antitrust laws)
    5:41:27 – Regulatory Commission
    5:56:23 – Antitrust laws
    5:57:04 – Competition versus competitors
    6:07:32 – Control of the market
    6:24:06 – Predatory pricing
    6:29:11 – Benefits and costs of antitrust law

    6:33:37 – Chapter 9(Market and non-market economies)
    6:38:35 – Businesses versus non-market producers
    6:57:47 – Winners and losers

    7:04:20 – Part 3(Work and pay)
    7:04:20 – Chapter 10(Productivity and pay)
    7:08:56 – Productivity
    7:15:58 – Paid differences
    7:17:50 – Income distribution
    7:31:08 – Trends over time
    7:41:00 – Differences in skills
    7:46:17 – Job discrimination
    7:59:16 – Capital, labor and efficiency

    8:09:30 – Chapter 11(Minimum wage laws)
    8:11:35 – Unemployment
    8:23:45 – Informal minimum wages
    8:34:34 – Differential impact

    8:41:20 – Chapter 12(Special problems in labor markets)
    8:42:43 – Unemployment statistics
    8:53:38 – Working conditions
    8:57:30 – Safety laws
    8:58:28 – Child labor laws
    9:00:34 – Hours of work
    9:04:54 – Third world countries
    9:13:30 – Collective bargaining
    9:14:08 – Employer organizations

  21. Introduction – Basic economics.
    0:19 – Preface

    3:31 – Chapter one (what is economics)
    6:04 – Scarcity
    8:53 – Productivity
    12:36 – The role of economics

    17:43 – Part 1(Prices and markets)
    17:43 – Chapter two(The role of prices)
    21:43 – Economic decision making
    34:28 – Prices and costs
    36:36 – Resource allocation by prices
    40:23 – Incremental substitution
    43:42 – Economic systems
    57:40 – Supply and demand
    58:20 – Demand vs need
    1:03:05 – Real value
    1:06:20 – Competition
    1:07:42 – Prices and supplies
    1:11:28 – Unmet needs

    1:18:15 – Chapter 3(Price controls)
    1:36:23 – The politics of rent control
    1:42:15 – Scarcity vs shortage
    1:44:25 – Hoarding
    1:48:37 – Black markets
    1:51:58 – Quality deterioration
    1:56:16 – Price floors and surpluses
    2:09:43 – The politics of price controls

    2:21:13 – Chapter 4(An overview of prices)
    2:23:57 – Cause and effect
    2:25:28 – Systemic causation
    2:32:54 – Complexity and causation
    2:35:48 – Individual rationality vs systemic rationality
    2:39:13 – Incentives vs goals
    2:45:28 – Scarcity and competition
    2:46:14 – Economic institutions
    2:51:42 – Incremental substitution
    2:57:30 – Subsidies and taxes
    3:02:29 – The meaning of costs

    3:09:36 – Part 2(Industry and commerce)
    3:09:36 – Chapter 5(The rise and fall of businesses)
    3:10:56 – Adjusting to changes
    3:16:17 – Social changes
    3:33:03 – Economic changes
    3:38:02 – Technological changes

    3:56:10 – Chapter 6(The role of profits and losses)
    3:59:56 – Profits
    4:01:28 – Profits as incentives
    4:13:40 – Profit rates
    4:21:56 – Costs of production
    4:22:20 – Economies of scale
    4:26:07 – Dis economies of scale
    4:35:04 – Costs and capacity
    4:42:28 – Passing on costs and savings
    4:46:38 – Specialization and distribution
    4:48:15 – Middle men
    4:56:00 – Socialist economies

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