More important is to understand that land (i.e., nature) is a passive factor of production. Political economists going back to Richard Cantillon treated land as the source of individual wealth. Thus wealth was something that had to be produced by labor with or without the assistance of capital goods. Land is, then, the Commons from which wealth comes. When land is treated as private property without requiring those who control land to compensate the community (by the payment of the full potential annual rental value of the locations controlled) what occurs is a redistribution of wealth from producers to non-producer rentiers. Acknowledging this problem, the French political economists known as Physiocrats called to an 'impot unique' charged to land owners, eliminating the taxation of producers altogether.
So, I don't mean to judge, but capital is not money (he says "capital meaning money" at 1:10). Economic capital is anything that is manufactured in order to be used in the production of goods and services. He gets it right later in the video, but it sounded confusing. Resources need to be productive and used to make something else, and money can't do that. It can be used to buy the resources needed, but money in itself is not a resource.
eh.... As it is typical in all economics theory, the most fundamental factors of production are once again completely missed. Raw materials and Energy. A fisherman can have all the capital, entrepreneurship intent, deckhands, and lad (or sea), without fuel and fish, he's not gonna go far... This goes for everything... And the mistake stems from the origin of economics theorie, when the actual factors you're stating were the first order limiting factor. Nowadays, there is more money than needed, unemployment everywhere and still a mess... That is simply because since the 70's oil shock, energy supply has not grown fast enough, and we over use natural resources, ie raw materials...
oh boy, I can't wait to destroy my recommended on this mandatory assignment
Fr teachers are buggin
Exactly what’s happening to me 😭
So I came here because of online school, but I love this guy’s energy so now he’s about to be my ride or die for school my last two years😂😂
ok but tell me why he look like that one guy cheerleader from zombies
Kendra Lauber frrrrrrr😭😭😂😂
Literally sameee!!!! 😭💖
So he says this hello good afternoon, morning, evening and night in every video. Its kinda sweet😄
Liked the video but really loved your energy. I've never subscribed so fast to a youtube channel before.
More important is to understand that land (i.e., nature) is a passive factor of production. Political economists going back to Richard Cantillon treated land as the source of individual wealth. Thus wealth was something that had to be produced by labor with or without the assistance of capital goods. Land is, then, the Commons from which wealth comes. When land is treated as private property without requiring those who control land to compensate the community (by the payment of the full potential annual rental value of the locations controlled) what occurs is a redistribution of wealth from producers to non-producer rentiers. Acknowledging this problem, the French political economists known as Physiocrats called to an 'impot unique' charged to land owners, eliminating the taxation of producers altogether.
What
So, I don't mean to judge, but capital is not money (he says "capital meaning money" at 1:10). Economic capital is anything that is manufactured in order to be used in the production of goods and services. He gets it right later in the video, but it sounded confusing. Resources need to be productive and used to make something else, and money can't do that. It can be used to buy the resources needed, but money in itself is not a resource.
When he said land my heart clenched, please don't do that again 😧💔 3:25
Oh 😮☹
best teacher ever u helped me in the finals
Hello Mr. Sinn! Thanks so much you are waaay better than me. Thanks for being pawsome :)
Am I missing the guided Notes somewhere?
this was a really good explanation on the factors of production.I really learnt allot and i think that im ready for exam
With some question included too, thanks this really helps
when he said land i died inside 3:25
Sameee
Please could you make a series on GCSE Economics?
loved this. thank you for this video
3 years ago and this video is still helpful💛
Where is the guided note sheet?
your videos' has helped me in projects to do well . thank you 😀😀😀🤖
Thank you this was very helpful 😇
It's really educative
This is so informative!!!!🥰
Absolutely 💯
Amazing video!!
thank you this was very helpful!
where are the guided sheets?
Superb!!!!
I just purchased the guided notes but only received a receipt of purchase
Please send me a message to mr.sinnchannel@gmail.com and I can help you out!
But water can be used as a capital bc we can use it to for example bake or something
I think he meant capital as in the money you use to start a business. Eg. R Ross contributed $80 000 capital into his business.
Hi can I ask what factor of production is cow?
Land honey..
Helpful thanks!!!
Love you'r vidéos helped me so much
Thanks
Can't coal and resources in general be considered capital?
Amazing
Thank you. 😛
He’s good ahhhh😊
permission to use please
👍
Money isnt a capital...
yes i dont think money is a capital i checked every map
Man is a literal sinner but Ight let’s pretend it’s not his name
I like it 😆
i choose capital first because without capital u can buy a land to start your labour having idea
I'm going to pass my quiz :3
Iv watched this video like 20 time and still have learned nothing
I’m here again Joseph g
eh.... As it is typical in all economics theory, the most fundamental factors of production are once again completely missed. Raw materials and Energy. A fisherman can have all the capital, entrepreneurship intent, deckhands, and lad (or sea), without fuel and fish, he's not gonna go far...
This goes for everything... And the mistake stems from the origin of economics theorie, when the actual factors you're stating were the first order limiting factor. Nowadays, there is more money than needed, unemployment everywhere and still a mess... That is simply because since the 70's oil shock, energy supply has not grown fast enough, and we over use natural resources, ie raw materials...
Hey I know you
hello
0:09 Subscribing to channel is not free #TINSTAAFL
land labor capital entrepreneur
why are you so loud
0:53
get money
Amazing
hi