An Economic History of the World Since 1400 | Self-Interest, Survival, and History The Great Courses

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Economics has, in many regards, created the world. Not only is it the process through which societies provide for the well-being of their citizens, it has also driven everything from trade and politics to warfare and diplomacy. In fact, there’s not a single aspect of history that has not, in some way, been influenced by economic practices.
Most of us, even those savvy at following today’s market fluctuations, have a limited understanding of the powerful role economics has played in shaping human civilization. This makes economic history-the study of how civilizations have structured their environments in order to provide food, shelter, and material goods-a vital lens through which to think about how we arrived at our present, globalized moment. It’s also a way to educate yourself about the history behind today’s (and tomorrow’s) economic headlines, from trade negotiations to job outsourcing to financial miracles.
00:00 Keynes, Heller, and Smith Define Free Markets
06:40 What Was Produced, and How Did It Get Distributed?
13:25 How to Define Characteristics of Capitalism
21:38 The Role of Institutions in Economic History
23:26 NeoClassical, Marxist, and World Systems Theory Views
26:03 A Starting Point for Economic History
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[@thedailylunchbox-foodforth6307]

This man just gave a 30 minute intro. Meanwhile I struggle with 500 word essays.

[@KeBanger18]

Longest intro ever. I could've swore he was trying to befriend me

[@CDot307]

This is exactly what I am looking for! I cant believe how freaking amazing this video just was. ^^^

[@07107026]

Great video! The only thing I would like to add is that economists don't try to predict the future. Economy theory is one field in Economy that goes dip trying to understand the human relations. Analyzing the past is part of it. Economist do know that their object of study is complex. They say economy is a sad science, always realistic about the events. Who like to predict the future are not one economist but a fortune teller.

[@malantoposh8090]

I love these courses.

[@alanfike]

FYI - This video is the INTRODUCTION to his course. Not a lecture.

[@AkshayrajKore]

where are the rest of videos ?

[@gods1fts]

Thank god I found this comment, now I don’t have to watch the rest.

[@muskduh]

Thanks for the video!

[@philippedramane8493]

good new for me.this is what l'm looking for.

[@commentatorxyz5514]

Quite an educational video.

[@giovaniteixeira67]

Great content. Greetings from Brasil.

[@marioriospinot]

Nice.

[@shubhamtibra]

I love this video. This dude is golden.

[@giz02]

the whole series is on amazon prime video.. it's exceptional

[@Zbychoslaw]

so where are the episodes where all those topics are analysed? this seems to ab a kind of introduction.

[@ianmutwiri5234]

Link for the next video,please.

[@user-qp2xy5zs7r]

Getting, spending, & making, how many times can some thing be reinvented?

[@richardzellers]

Immediately starts with support for Keynesian economics, UGH!

[@Account.for.Comment]

There are many schools of economics. It is a social science, meaning a 90% of it are opinions. Of course some people consider their own opinions as scientific facts just because they can do low-level mathematics.

[@mihaicrisis7899]

01:00 even keel 01:28 heady days 05:44 on the other hand ... posing 07:13 to keep the staffers on message (?)

[@chasethosebluesaway]

good stuff. i like the definition of capitalism.

[@kpg3221]

Got half a hour before my test hope this is worth watching

[@fanfanatik3144]

Was it?

[@johnappleseed8146]

This isn’t a good vid to watch for that yall

[@ROGERWDARCY]

The income of others!

[@MrRobertzingela]

Only when you are pro-capitalist will struggle to explicitly define capitalism.

[@mommat794]

This appears to be simply a general overview of the course offered on their website. The topic of economics is deep with many layers to peel away. There's no way he's going to cover everything in a 30 minute lecture.

[@TheGreatCourses]

Hi, +Momma T - Thanks for watching! There are 47 more 30-minute lectures in this course...check them out here: www.thegreatcoursesplus.com/show/an_economic_history_of_the_world_since_1400?US_OnlineVideo&SocialMediaEditorialKZbin&

[@kenvepopi]

40°45'47.5"N 30°03'16.5"E

[@nthperson]

Walter Heller had an important blind spot in his views about the effects of taxation, as did John Maynard Keynes. The problem is that they saw no significant difference between the taxation of earned versus unearned (i.e., rent-derived) income. Heller and Keynes ignored the very insightful analysis provided late in the 19th century by Henry George on this issue. George's analysis has found renewed attention by economists such as Joseph Stiglitz.

[@threestans9096]

i don’t see that difference either. that income was “earned” at some point. don’t disregard things just cuz one doesn’t have a physical hand in the work at that second. what do you think of music recordings? every play is unearned, by your definition, i believe.

[@benjamincheney1897]

Well it started getting pretty good towards the end but it just leaves you hanging. Where is the rest of story?

[@TheGreatCourses]

Hi, Benjamin. Here you can find the rest of the story: www.thegreatcoursesplus.com/special-offer?Video&KZbin& Happy learning!

[@accqpqp2339]

28:16

[@CookieThug]

lol he said “cringe”

[@isakdalsfeltimagerydepicti5241]

ceo of turning to the other camera

[@elorms]

Imperialism, colonisation and economic exploitation continues to this day in varying forms

[@gh778jk]

If he keeps planting turnips he can't get rid off.... why did they gave him a Phd in economy ???

[@stacyliddell5038]

It is fascinating to look at how the Keynesian Model is failing now. The Fed is debasing the currency at unprecedented rates due to the economic shocks caused by the global pandemic. Will be very interesting to see the fallout of this level of currency creation. Every other country or empire who has tried this has seen their currency collapse.

[@dekumusik2500]

Stacy Liddell what do youmean by the failing of the keybesian model?

[@hawsse2796]

inflation is not everywhere and anywhere a monetary phenomenon.

[@rappakalja5295]

Keynes never advocated for excessive money printing, so calling it the "Keynesian model" is just igorant.

[@FonsecaStatter]

A very misleading title...

[@benjamincheney1897]

Half the way through I'm still waiting this guy to get to the point and wonder if he's going to quit talking in circles about nothing.

[@4Larin]

Same here

[@andrewplotner2952]

....Capital is assets... False. Assets are assets. Capital is the money utilized to purchase assets. Capital is a term utilized to define a very specific form and function that money takes. Traditional economic cycle is C-M-C. you sell a commodity, for most people this is work. you get money for that work and you use that money to buy another commodity. There is an equivalence of exchange. the premise being the work and the commodity are of the same value. Capital on the other hand changes this equivalent form of exchange and makes it nonequivalent turning it into M-C-M'. Where capital is the money that is used to purchase a commodity that is then sold for more money. Therefore Capital is money utilized to gain more money without doing any work. Notice you cannot have two forms of exchange in an economy, one being equivalent and the other being non equivalent. This means that the other form of exchange C-M-C where most people are is non equivalent. Meaning C'-M-C where the commodity that is sold is of more value than the money received. This is evident in the inequal distribution of profits in a company. If profits rise and workers pay does not, then the workers are not being properly compensated for their work and the value of their work is not being properly measured. This in turn creates a siphon from the working class to the capitalist class that leads to inequality within the system. As the system perpetuates the inequality grows until it cannot sustain itself and the system must reset (crashes every 6-10 years, and major crashes every 60-80 years). To ignore this fact and to not include Marx's fundamental structural critique is absurd and shows the very bias this "historian" has. It is this understanding of the system that drove Keynsian economics to say hey these critics are right lets try to use regulation and government intervention to redistribute the wealth caused by this structural siphon that is capitalism.

[@ladyathenaofowls]

This is so long and drawn out for no reason.

[@ereinholtz]

How about, don't call the Egyptians "primitive" and instead the brilliant ancient civilization they were

[@TheGreatCourses]

Hi Elana, a civilization can be primitive in a variety of ways (in particular economically) and still be brilliant in others. Additionally, primitive has multiple meaning and no slight is intended towards Ancient Egyptians (who were amazing enough for us to cover in a 48 part course)!

[@corinnaspickermann2550]

@@TheGreatCourses if we continue to live the way we do with fossil fuels we are going to vanish and sustainably living "primitives" might laugh at us. Come on, there are new words to talk about peoples who habe survived for tens of thousands of years.Their economies must have been quite smart.

[@smellypunks]

The Freerider problem is not really a problem at all, it is just the entrepreneurs have to figure out ways of providing so called public goods while making a profit. Radio stations were considered a public good but now using advertising and other sources of income to fund it. Lighthouses also have been called public goods, with the idea that no one would pay because everyone can access the light without paying. Again this is wrong in the past lighthouses were frequently built and operated by private entrepreneurs, rather than by governments. This list of so called public goods goes on:- roads, street lights etc etc. Here is a lecture on the topic. kzbin.info/www/bejne/ZoC1fYJ_d7WcsNU

[@chetanrohit6448]

india

[@doctorotis3743]

BYU mormon professor?

[@petitblenderman]

Thank you for trying to be objective and not focusing on a capitalist view of the world.

[@estimatingonediscoveringthree]

Huge false premise here!!!! Self interest was community interest up until the centralizing of wealth and therefore the subjugation of the average person.

[@imranmengal753]

what about economy introduced by hitler, what were its consequences, did it achived it goals: these are the realities the professor never tells you in his this course

[@peterbito5538]

There is a bit of irony in the video. On the one hand it critiques Western-centric points of views that have dominated economics for so long, meanwhile while at the same time the map sticks the label of 'Europe' over France, instead of anywhere close to the centre of Europe, which should be in Austria or Czechia. So, while critiquing a Western-centric point of view, it further advances another Western-centric point of view by suggesting that France is actually the heart of Europe. It's the equivalent of producing a map of the US and putting the label of the United States of America in California, rather than into the geographic centre of the country... it's misleading and amateurish.

[@bobbytables464]

This is a lecture about economic history after 1400. The geographical center of Europe is completely irrelevant when the relevant region spreads as far east as the Hanseatic league. The Russian Empire and other parts of Orthodox Christendom play little part in this history. Serfdom wasn't abolished in Russia until 1861!