One of the great things about being an Econ nerd, is that you say normal sounding things that people don't understand. I.e. "Public goods" and " market failure".
I’m an international student and I don’t have to pay taxes, but I have to pay tuition which costs us twice as much as Americans pay. It’s way more expensive than paying taxes lol
Mr. Clifford, I bought both your ultimate review pack as well as your app but with the app i can't seem to watch the embedded You-Tube videos. How do I resolve this. An urgent reply will be most appreciated. Keep up the awesome good job.
Any chance you can make this video accessible by editing the inaccurate RUclips auto captions? You do this on most of your videos but this one is auto-captioned so I am unable to use it in my class. :(
Christian Prepper WTF?!?! Foreign Invasion? Were in the 21 Century, countries have understood that war is stupid and armies should be abolished gradually After yalta conference
Hello. I'm someone and I'm "out there". There is no 'good' that is not, or cannot be provided by a pure free market. There are private military contractors, militias and security services that can be contracted. Professionals provide services and produce goods. Did Barrack Obama get out on the highways and fill those potholes personally then, or did the government sell a contract to professionals to build and maintain the road systems? Also does the need for roads magically dissipate when the state is abolished or will people still contract companies to build, own and maintain road networks?
in a model world you would be right. But state is necessary to prevent "free riders" to crash the system. I think he ended the video with an example. "If someone else is paying for me, why should I do so?" Until everyone thinks like this, and roads must be exklusive for people who pay for it. Which will probably lead to several companies that build streets independet from each other, but with imperfect allocation and very high prices, due to the loss of the natural monopol.
Sorry, but I must strongly disagree. Government is always less efficient at using money that the people who _earn_ that money. Maybe street lamps wouldn't exist without taxes, but the market would surely fill that niche with some better, less wasteful product. And you cite public schools as a good thing?! You must not have kids in public school. Public schools are becoming a great argument _against_ socialism.
Thanks for your post. Just to clarify, I said free public education is an example of non exclusion. I did not say that it is the only or preferred method to teach the youth. Also, I agree that the government is more likely to overspend since it is not their money, BUT there are clearly things that society wants that the free market just won't make because there is no incentives or profit.
***** Alright, I see how I misunderstood you. It sounded to me as if you were endorsing these things instead of merely explaining them. Still, there are viable free-market responses to "Who would build the roads?"
+Seth Moore sorry even that isn't truth. See the economic history. Now the most innovations (in the USA) are the result of PUBLIC RISK Capital. Without Government no GPS, No Internet, ...
dude the last statement was a complete savage
Dave Long how about cancer?
You ain't lyin'
For real tho
this man has single handedly saved my econ grade
i feel attacked by that last statement
Just wanted to say: I was started the "Market Failure" playlist and realised your improvement over the past 3 years.
You are the most aweseomest microeconomics teacher
I love how the intro was longer than the rest of the video
Love your work man!!! Still using your videos 5 years into schooling!!!
One of the great things about being an Econ nerd, is that you say normal sounding things that people don't understand. I.e. "Public goods" and " market failure".
Brooks Gorden I think most people know what a public good is. It’s what it sounds like 😂😂😂
I am reading your comment 8 years later
I spit my drink everywhere at 0:07 XD
“If you can get it for free, why bother paying it”
WinRar being a public good 🤣
lol loved the check your pc for illegal music bid awesome analogy
That bit hit hard and personal. Great lesson lol.
Dont worry ACDC belt guy, i completely agree with you!!! Keep up the good work brother
+Connor Douglass Yeh i know!!
I’m an international student and I don’t have to pay taxes, but I have to pay tuition which costs us twice as much as Americans pay. It’s way more expensive than paying taxes lol
You called me out on my music🤣
wow, this video was super helpful! I look forward to watching more of these videos when they come out! See you later Jacob!!!!
Iiiiiiiiits that time of the semester again!!!
Education even public free education is a private good, rival and excludable.
splendid explanations man.
street fights in the park is a public good xD
Accurate depictions 😂😂😂
Mr. Clifford, I bought both your ultimate review pack as well as your app but with the app i can't seem to watch the embedded You-Tube videos. How do I resolve this. An urgent reply will be most appreciated. Keep up the awesome good job.
lmao
Any chance you can make this video accessible by editing the inaccurate RUclips auto captions? You do this on most of your videos but this one is auto-captioned so I am unable to use it in my class. :(
The intro is longer than the rest of the video.
Whats the name of the review app?? If it still exists...
Man you are a badass. I think your political party could be "Rational Human Being"
That was awesome! Thanks!
*WOW! THAT WAS SIMPLIFIED!*
1:04 True. Libertarians agree govt is necessary to secure the country from foreign invasion, enforce contracts & law.
Christian Prepper WTF?!?! Foreign Invasion? Were in the 21 Century, countries have understood that war is stupid and armies should be abolished gradually After yalta conference
@@marianotrani8438 man, should tell that to the people in Crimea. I'm sure they'd love to hear that they're still apart of Ukraine.
@@marianotrani8438 well that aged well
Hello. I'm someone and I'm "out there". There is no 'good' that is not, or cannot be provided by a pure free market. There are private military contractors, militias and security services that can be contracted. Professionals provide services and produce goods.
Did Barrack Obama get out on the highways and fill those potholes personally then, or did the government sell a contract to professionals to build and maintain the road systems? Also does the need for roads magically dissipate when the state is abolished or will people still contract companies to build, own and maintain road networks?
in a model world you would be right. But state is necessary to prevent "free riders" to crash the system. I think he ended the video with an example. "If someone else is paying for me, why should I do so?" Until everyone thinks like this, and roads must be exklusive for people who pay for it. Which will probably lead to several companies that build streets independet from each other, but with imperfect allocation and very high prices, due to the loss of the natural monopol.
you had me 2:26
So is Elon Musk building his own roads or does he get gov funding?
1:08 hold my beer
0:04 lmao
0:06
Did you just say freemarket capitalism allows government to tax. Whaaaaaaat
+The Light
People have to earn money before they can have it taken from them!
swell guy Lol
thank you
No illegally downloaded music.
Those games are just abandonware though, trust!
Education should NOT be free to non-taxpayers. Conversely, people, regardless of their age, who have no children should NOT pay school taxes. 1:37
And WE R thge Gov't so Why isn't stuff getting done- they DON'T "Got This". smh. no neckties too.
thanx for this
Even hardcore Libertarians want a state?
Ok Boomer
Any 1 else here frm the learn 4 life credit 3, page 23 of economics 😂
Pubic goodw 💀
😂😂😂
baited xd
this is unhelpful
Sorry, but I must strongly disagree. Government is always less efficient at using money that the people who _earn_ that money. Maybe street lamps wouldn't exist without taxes, but the market would surely fill that niche with some better, less wasteful product. And you cite public schools as a good thing?! You must not have kids in public school. Public schools are becoming a great argument _against_ socialism.
Thanks for your post. Just to clarify, I said free public education is an example of non exclusion. I did not say that it is the only or preferred method to teach the youth. Also, I agree that the government is more likely to overspend since it is not their money, BUT there are clearly things that society wants that the free market just won't make because there is no incentives or profit.
***** Alright, I see how I misunderstood you. It sounded to me as if you were endorsing these things instead of merely explaining them. Still, there are viable free-market responses to "Who would build the roads?"
+Seth Moore sorry even that isn't truth. See the economic history. Now the most innovations (in the USA) are the result of PUBLIC RISK Capital. Without Government no GPS, No Internet, ...
+Caius Filimon I very much agree with you.
without public risk capital no I phone I'm very sorry.
Man... you just scared me bro.
This is not your field.
Thanks but you really annoying.