Intro to Economics: Crash Course Econ #1

[@ffish3719]

ECONOMICS is the study of people and choices. OPPORTUNITY COST is whatever you give up to do something. SCARCITY is the tension between infinite wants and finite resources. INCENTIVES is a set of external (rather than intrinsic) motivators that explain people's choices. MACROECONOMICS is the study of production, employment, prices, and policies on a nationwide scale. MICROECONOMICS is the study of how consumers, workers, and firms interact to generate outcomes in specific markets.

[@BlankedOutSlate]

Thanks man, I needed 3 of these since my teacher said it's a homework we gotta do XD

[@malayahcarey5575]

THANK YOU! I honestly couldn't even read the definitions because they were too blurry.

[@nothingunique6250]

God Bless

[@thereisnoplanb139]

gracias

[@shaunklater8148]

OMG TYSM helped a lot

[@truthseeker2126]

I’m 38. I never graduated high school. Got into a a relationship at a young age. Had 4 kids with him. Fast forward. He was abusive but he got still got the kids because he lied in court. Fast forward. Finally stopped feeling sorry for myself, got over my depression, got saved, fast forward I’m 2 classes away from finishing my high school diploma and going to college next. Economics is one of the 2 classes left. I can’t believe I never took this class. It’s literally changing my life for the better.♥️ God Bless.

[@LostPilgrim]

Glad to hear your life's turning around for the better! Take care of yourself and good luck with school!

[@stayjaya7674]

inspiring. thank you

[@mcclendonnimayamanasseh5708]

You go girl. God bless you more 💙

[@ishashah5734]

That is actually amazing. Us high school students are cheering you on.

[@merryholly]

when you gotta watch crash course again because all your classes are online and nothing makes sense

[@Cl0ud_bean]

same

[@zairaguevara8360]

Actually I'd rather do crash course than do all of my online classes honestly¯\_(ツ)_/¯

[@princeskah7370]

sameee dude lol

[@princeskah7370]

@Liberty Broadway ?

[@Jere.pola2]

Word😂

[@cerulean22b69]

im not in an economics course, im just here out of curiosity. its such an important part of society that i want to know how it works. anyways to everyone doing this for a class good luck :)

[@nataliefields9009]

@Universalis Ted lol hater

[@karansgarg]

I swear this channel is a gift to mankind

[@davidcarlson4958]

and womenkind

[@davidcarlson4958]

actually nvm, we prefer peoplekind

[@imback2killu328]

@@davidcarlson4958 lmao

[@snakswin5729]

Dislike

[@OhWaker]

@sticks&stonesmaybreakmybones, Marcosparinmgaulol!! Don't you mean... hupeopleity?

[@happyorangejuce]

My entire life, I didn't smoke, I always applied sunscreen before going outside, I was conscious of what I ate, and I exercised regularly. Now none of that matters because the comments gave me cancer.

[@FreeShadow05]

This was a great comment. A+

[@bigbadbraxien6081]

Sweet "T" sunscreen is unhealthy

[@ahlamtaha1134]

loooool

[@djeieakekseki2058]

Sweet "T" lolllllllll

[@col8179]

By saying that i hope you actually get it.

[@mosquitobight]

Entrepreneurship and establishing a business should have its own crash course series.

[@goroakechi1068]

Yes! That would be great!

[@joaocastro2416]

That would be awesome.

[@lincolnpepper816]

oh look, they have a full series about economics! how convenient.

[@oceanspringswebdesigner4495]

A better alternative would be to read book on it. Most people on the Internet who talk about Entrepreneurship have no credibility to be talking about it in the first place.

[@fabiangan6693]

I agree!

[@mxriamn]

*Taking economics this year, PREPARING EARLY*

[@mahima6916]

Same. I don’t want to fail.

[@jakylabrooks1811]

Man they scheduled me for AP Econ 💆🏽‍♀️💆🏽‍♀️

[@reflux1059]

@@jakylabrooks1811 You considering being a economist one day or nah?

[@DianaGarcia-dy8sf]

Economists education is to help to solve problems.

[@gideonsbible]

dude same

[@pattty847]

5 years later and I've rewatched this entire series multiple times and am still delighted by how well these two get along and work together.

[@theradpluto4976]

1. What is economics? - Is the study of people and choices 2. What is opportunity cost? - Is whatever you give up to do something. 3. What are incentives? - Is a set of external (rather than intrinsic) motivators that explain people's choices. 4. What is Macro Economics? - Is the study of production, employment, prices, and policies on a nationwide scale. 5. What is Micro Economics? - is the study of how consumers, workers, and firms interact to generate outcomes in specific markets.

[@FunkyHonkyCDXX]

I'm looking forward to ignoring the comment section almost as much as I'm looking forward to watching this series.

[@Twirble]

FunkyHonkyCDXX Negative comments always go to the top on youtube because everyone wants to reply to them. It creates an atmosphere of negativity that is not conductive to real discussion.

[@truboo4268]

FunkyHonkyCDXX I can already tell a fair few will be "Blaah this video was only watchable because of the Muppets"

[@ghuegel]

Twirble They really need to bring back functionality to the downthumb button and bury comments that get a high ratio of down to up.

[@smhdpt12]

Dave Power #6 Thank you!! I never understood why 'thumbs up' comments got counted votes, but 'thumbs down' never did. Why?

[@Aiba271]

Dave Power #6 amen!

[@dawnquarles8526]

Love the entire series as well as the individual videos Clifford does. He not only made it possible to pass Economics in college, but I use these videos to help reinforce the material for my own students. That way they have them for when they get home, and may become confused about a concept.

[@thedemolisher4887]

Personally, I don't find anything really wrong with this video. It provided a quality and informative description regarding the background nature of economics and what is generally expected to be tackled on in this course which I believe is the main purpose on why this video was made after all.

[@SirusDas]

Few awesome things about this channel is... 1) Very well scripted 2) Very well presented 3) Very well explained. 4) Very well compiled. Thanks for sharing knowledge!!!

[@wren4741]

I'm 17 and the muppets intro actually soothed my internal outcry against the Green brothers not being present...

[@petep]

"Who's gonna walk to the gym?" This is your brain on America.

[@angledgaze6203]

Our hunter ancestors would not approve.

[@micheleh5269]

Haha truth. But then if we walked to places would we even have gyms?

[@tashaneuhaus]

I bike 👋

[@Aaron-wq3jz]

Damn you right unless you're weight lifting

[@angledgaze6203]

@@Aaron-wq3jz Not really. Unless you are some sort of high level athlete that needs to perfectly balance their energy. On easy days I run before lifting weights and it doesn't affect my training too much.

[@criftycraftay]

If someone explained economics like that to me in school, I might have studied it. Great job, guys!

[@4TRANC3]

Over the next 40 weeks? I have 32 hours to learn everything for my Econ midterm.

[@lyonlofi]

is it weird that i'm watching this for fun instead of studying? D:

[@andrewvu712]

naw man, you are AMAZING (y)

[@jacobtolbert7156]

Not really

[@otaku3OBSESSION]

Yo me too though

[@ultimatedeath9982]

Why not both? :3

[@captaingerbil1234]

Ha, I'm avoiding homework by watching this. I don't even have an economics class.

[@rogersnick17]

This crash course made economics sooo approachable for me, eased me into the stock market and literary changed my life. This fact this knowledge is free is a godsend. I HAVE to donate to this channel.

[@illuminatiCorgi]

I don't care that I'm 27. I wanted the muppets to teach me O_O

[@Bubbaganoosh88]

same

[@Arya-mr3ox]

"it's not easy being green." -a great man, err puppet

[@taramahoney3368]

Same!!!

[@patricialim6816]

Hahaha

[@aidenhanson884]

I’m glad my teacher made me discover this channel

[@TheDreadfulCurtain]

Coronavirus hits and I would like to repeat “those air craft carriers could be hospitals and roads.”

[@epicotakugamer4930]

Same here

[@theforce5191]

@Marcus White lol, accident? Yeah right. I believe its intentional.

[@germangamingvideos6069]

@Marcus White Thats wrong the US Healthcare system is shitty but also extremly expensive

[@markmoreno6106]

Though the benefit would only improve are most recent use

[@TheultimateBradyBunch]

I went back to college after 22, and it was economically the best thing I ever did. The benefit outweighed the cost I even chose managerial economics as my manager Awesome video !

[@heartache76]

..."That computer you bought"... Me: "how did he-" Also me: "oh"

[@ariel.yeater]

the woman: eek me: oop the woman: eek again me:EEEEEEEEEEKKKKKKKKKKK

[@Thoughtspresso]

On Rat Tails: during the this year's drought in the Philippines, rice farmers started to starve. Crops were dying, and so were the animals. (There was a mass shooting of farmers who rallied asking the government for aid.) Latern on in certain provinces, there was a bounty on rat tails. For every X number of rat tails submitted, they would be given Y kilograms of rice. The farmers submitted rat tails for rice, and then they roasted the rat bodies for meat. Just an example of how a failed incentive policy elsewhere worked under a different context.

[@satishvemuri9052]

Great point!!

[@FFFlay]

Hey, that's really interesting!

[@EffortlessEducation]

Wow thanks for this great point!

[@feynstein1004]

Human ingenuity at its best. Someone will always figure out a way to get more profit. And others will follow suit.

[@eviewang3329]

Or you end up with a bunch of people breeding rats, who eat your rice and other crops. Smart humans indeed!

[@MultiSciGeek]

Revisiting this after years, recently finished my exams (textbook stuff) and just realised how good this is! This is so refreshing! I love the out of box and real life application stuff!

[@PrivacyKingdoms]

Jacob and Adrienne, please ignore all these hateful comments. I literally did not feel one negative feeling towards anything in this video. I seriously can not understand what is so bad about this video. It covered everything my Economics teacher did, but it didn't take 45 minutes, so I don't get why people are complaining that you aren't teaching anything yet. I needed this broad context, because I finally know why I need to study Economics: mainly to understand that life is satisfying my unlimited wants with limited resources, how to consider the costs of everything, and understanding how we need governments to keep incentives straight and also provide additional ones.

[@yPGzRicardo]

Just because you liked the video it doesn't mean other people did too. You having liked it is no reason for them to ignore criticism.

[@PrivacyKingdoms]

the content of the video is perfectly clear. nothing is confusing. it is taught at a good pace, considering that these videos are meant for people who are taking economics for the first time. half of the people watching this have taken it before, so that's why it may seem slow. visual aids are a nice supplement to the lecturing, and all the information is correct. so why all the dislikes? oh, yeah. the hosts are "weird" and "annoying". people are criticizing them solely because they are different. that's like saying it's acceptable for the nazi's to criticize the jews and the crippled because they are not like them. please don't pass off the intolerance of eccentricity as "criticism"

[@muuao5207]

True

[@christianf4017]

I think its because if you just enter this course without prior knowledge then they do miss a lot of stuff

[@withyoctopus]

+

[@annamoon8684]

I just started watching this Eco series and it took you 11 and so minutes what my teacher did in 3 sessions. I'm not saying my teacher did a bad job, but many of my classmates wouldn't have had such a hard time if you way were our teachers. I'm actually gonna share this with my friends, I know they're gonna love it so thanks for your hardwork and the quality content :D

[@StephenRichmond89]

Please say the rest of this series isn't going to be this patronising. I love economics, I love crash course and I really do try to give things a good chance before I switch off but I just couldn't make it past the section on opportunity cost without thinking that maybe this wasn't a great use of my time. I have no desire to be mean or unkind and I have no doubt the presenters, script writers, editors, director and everyone else are brilliant people who work increadibly hard but this is just a huge shift in tone from the other crash course series. One of the assets of crash course is that it could be light hearted with great content without the usual talking down to the audience that you see in school/educational videos. Please don't lose that. And thank you for all your hard work.

[@StephenRichmond89]

Dan Harrison seems such a shame. I'll certainly keep watching and hope it's just an into episode thing!

[@aaronkeathley1190]

Dan Harrison #BringBackCraig

[@dannysulyma1259]

Dan Harrison enough wheezy waiter, I like the hosts that they have chosen

[@aaronkeathley1190]

danny sulyma I could get used to them If they would slow down a little bit they talk a little fast for my liking

[@SilortheBlade]

Stephen Richmond This show is designed for people who know very little of the subject, whatever they are speaking about. I have taken several economics courses and this was all stuff I learned in the first couple classes, but I still thought it was a well put together video. Personally I am happy to see this out as I think economics should be mandatory education.

[@maedhyne]

1:52 to skip the cringe.

[@edwardalvarez107]

I choose to be open minded and give them a chance.

[@josephmclord]

Me too , I am high school student and book is lame , and teacher don't teach nicely , only gives maths questions, so even if a dog teaches me , I would go down for it ! , but they look pretty cool !!

[@LadyCoyKoi]

Into third episode they lost me. we need just one person to be honest. Two people just confuses it all.

[@roselle9614]

this is so awesome! it didn't just add fun to economics, it added more attractive and colorful pictures, which i dont find in my book (i'm a bit of a visual learner, so yeah) i'm looking forward to finishing this course more power to you guys!

[@KCMMFB]

You guys did read that this was intro right? Every intro class I've ever seen aims to butter you up before they hit you with the hard stuff. And besides, what's wrong with the muppets showing up? Were they too distracting for you? Whatever. I'm excited for this anyways!

[@headinthegalaxy]

I don't remember picking Economics as a subject and yet here I am, having a break down and hoping to god Crash Course will help me pass. I'm so screwed...

[@tinaareddy]

I wonder why we didn't have economics in school, all this sounds extremely interesting!

[@feynstein1004]

School sucks, basically

[@nonamenoname9701]

yes me to

[@SweetComputing]

We had economics but I never paid any in the class. Kind of regret it now.

[@thebigmuffin6632]

It sound interesting, but you have to remember that real economics quantifies everything. Meaning that everything said in the video has a mathematical equation and it can be sketched in a graph. That is economics. If you want to study economics or learn it in school you have to know that its just maths that can be applied in the real world. So you should like or at least be able to tolerate mathematics.

[@chibiprussia5574]

The school district I went to taught this, I took it freshman year.

[@Jazmynnn]

I cant believe im out here on summer break watching a video on economics... quarantine has me craving school now

[@walrusrider8993]

Im in my first ever Microeconomics class and i am so grateful for this video series right now

[@ishitabajpai6157]

This guy speaks so fast that I gotta play back everything 😂

[@heartenworld9793]

Yes

[@anonymousxx6766]

You can slow down the video by going to "Settings" (located next to the "CC" icon on the bottom of the video). Click on the "Settings" icon and choose the "Playback Speed" options. I suggest you choose the 0.75 speed option because the 0.5 option makes the people sound like they are drunk.

[@edwindano]

You just have to listen faster

[@heghoge4639]

Just put the subtitle on, screenshot each second, and play it on PowerPoint

[@silvahedgehog]

Just use your personal time stone, and then use your tardis to go back in time and listen to the audio again. Much easier than playing it back constantly.

[@beck01]

I can't believe people are actually complaining about the hosts, they are great! I am watching these again after two years and they remind me why I loved this subject in the first place ❤

[@freesk8]

Please be balanced. Can you present both sides? I mean, not just the Keynsian/Krugman side. Mention the Chicago School/Milton Friedman side as well. Bonus points for the Hayek/von Mises side! :) Especially on the macro side, there is controversy. Don't gloss over it, please! That's where the fun and excitement comes in!

[@HxH2011DRA]

freesk8 probably not gonna happen unfortunately :(

[@iwannasomathis]

freesk8 Unfortunately Crash Course has always leaned left it seems, I very much doubt they will mention Mises, maybe Hayek cause it's hard to ignore Hayek v Keynes when it comes to theory. Hopefully they will be objective, but basing on Crash Course itself and even on this video already, I very much doubt it.

[@culwin]

Joe Barnas Why should they show "both sides" when one side is wrong? Objectivity doesn't mean giving credit to stupid ideas.

[@andrewlamore72]

Joe Barnas How about we don't judge a series based off of the first episode? A lot of things can be "implied" without the writer noticing, and hopefully the comment section will allow them to see their mistakes.

[@m8e]

freesk8 "Both sides", LOL. A typical americanism. Everything have exactly two sides.

[@RainaRamsay]

Whaaat? They have Muppets! How do they have Muppets??

[@livedandletdie]

Raina Ramsay Didn't you know the muppet guys do a lot of stuff on KZbin, including cooperate with other youtubers. For instance they are everywhere.

[@RainaRamsay]

I did not know that! That makes my life better.

[@Thunderwalker87]

Raina Ramsay I believe CPB (like PBS and NPR) have stepped into a corporate sponsorship role with Crash Course. Which considering all the sponsors that could be that isn't the worst it could be... Statler and Waldorf clearly need their heckle box or park bench... or something!

[@tuckersabath4984]

Thunderwalker87 the crash course guys have certainly proven their value to the community, I for one am glad to see them get plenty of sponsorship opportunities.

[@95keat]

I would fucking love professor honeydew teaching me economics

[@ashleynaylor8412]

I really liked this video, because for the first time in my Economics studies I understand why Economics is considered to be a social science.

[@strombolijr.9782]

Is it just me, or is this guy in every SINGLE ECON VIDEO, I literally cannot escape him

[@3211powell]

Doesn't he look like Mark Cuban

[@beck01]

Paul Thomas Yess

[@horse433]

Discount mark cuban

[@toraw4tv1]

@@horse433 mark Reuben😂

[@BlackNoir999]

Mark Cuban and Athlean X combined

[@jmitterii2]

He is. Cuban cloned himself so he wouldn't have to follow normal economic principles of opportunity cost.

[@alexisabakasanga]

I loved economics as a subject back in high school. It’s so interesting, I loved this video

[@ianreddish1878]

Watching Crash Course is always worth the opportunity cost.

[@mattbenz99]

This is a small complaint but can you please not add "and women" into every quote that uses the word man from now on. Usually when someone uses the word man in the context of the quotes you showed it usually means is just another way of referring to the human race as a whole. It is almost never meant as a way to exclude women and I find that changing the quotes in this particular way to be both distraction from the quotes themselves and kind of pointless. I am not trying to start an argument here but this is just my opinion on this subject.

[@NCKMCMLLN]

mattbenz99 I think that was just a nod at all the people who had been previously mad at crash courses lack of gender diversity. Like, don't worry, we heard you.

[@Reluxthelegend]

XxMcMuff1nM4anxX They could say just "people" or "human". I think it would be the best solution... But I think that quotes should stay intact. :/ +JooJoona Yeah, I think that citing male and female separately is a bit sexist because it implies a difference in the subject (economics [ignoring any society preconcepts]) where no difference is to be found( this would be different if the subject was for example biology) and that is why I think that saying "people" is the best solution.(except in quotes, since they should be left intact)

[@zedasilva3]

mattbenz99 No one says I have dogs and bitches, we just say we have dogs. We don't say that Africa is full of lions and lionesses, we just say it's full of lions. Man is just a name for our species. Adding "and woman" is just stupid.

[@digdougx]

Alex Azazel Welcome to the Minitrue. We are here to educate and inform.

[@Antionamente1]

mattbenz99 Calm down everyone. I think they just put the "women" comment in for comedic purposes. Learning Economics can be boring. They're just trying to lighten the mood.

[@revera89]

Very recommendable course on economics. Easily understood, non-partisan; excellent. Thanks Crash Course, for the, as always, on various topics and with various hosts, entertaining education.

[@BB0FaN]

The fact that these videos have a long list of Subtitles including Arabic makes me very optimistic and joyful. Angels exists... They make educational videos ❤️ Love for Saudi Arabia.

[@Arsh.i.i.i.n]

I loved the Muppets surprise 😭❤️

[@FAITHVDEAN]

I passed my macroeconomics class, but this video taught me more lol

[@stevenxw]

Clifford's going to be my micro/macro teacher this year at SPHS. hahaha

[@spikemasterb2521]

He is?

[@stevenxw]

Yeah, lmao. He's taught at my school for years, but left last year to do this crash course stuff, and stuff for his own KZbin channel. But now that he's done with that, he's coming back to SPHS.

[@spikemasterb2521]

Steven Waggoner Nice. I'm going to 7th grade this september so I'm just watching these vids to learn some things to increase my knowledge of various topics.

[@stevenxw]

Going into my senior year. Good for you man!

[@kristianwhite1061]

Steven! What are you doing in the comments section? XD

[@SurvivingAnotherDay]

Taking economics this year! And the next. And the next year after that. As well as the year after that. *I'm majoring in economics*

[@namih1549]

when your GCSEs get cancelled, so you have 5 months to do whatever tf you want, but you're taking econ for A Level without doing it at GCSE, so you decide to get ahead bc you have nothing better to do.. ;)

[@aisha5491]

on ur side hehe

[@noobmaster-zq9su]

Fr

[@rosannamarriott3800]

what same omg

[@id004_5]

rosanna marriott same r u prepared for it?😂

[@Oh-lk2qd]

My school didn't even provide Econ for GCSe but I want to do it at A level. Any ideas on how I should catch up? How key was GCSE do you think?

[@goroakechi1068]

You guys should do one that focuses on Entrepreneurship and business! That would be awesome!

[@karunasharma8315]

Well imma say it, i didn't like the eek....specially twice.

[@MrYass24]

Yeah That squeaking hurt my ears

[@elexiacozy4413]

hahahaaha i swear

[@markparages1233]

That, and the explosion sound effects are the only reason I down voted the vid.

[@pladimir_vutin]

I thought something was wrong with my headphone the first time!

[@natydragos6844]

Actual video starts at 1:54 you're welcome

[@areebbaig2833]

That moment when your online teacher is useless and your textbook is bulky and boring so Crash Course becomes your actual teacher

[@shilohandkerentv9163]

FOR THE 1% THAT SEES THIS I HOPE YOU ACCOMPLISH YOUR DREAMS WE JUST NEED TO WORK HARD MINE IS TO BE A KZbinR. GOD WILL DO THE REST.

[@CptnJCFG]

sigh, ok I'll bite. But can you guys talk a little slower? Economy is a delicate flower that people need to attend to calmly. People need to be more financially responsible and maybe this could help.

[@HexerPsy]

CptnJCFG Im used to hanks speed - but the guy talks even faster, making it hard to follow ~.~

[@only20frickinletters]

CptnJCFG I watch most vids at 2x speed. If they were actually presenting information, I would have had to watch this at 1.5. I don't think it's too fast.

[@SangoProductions213]

***** I played it at 3x speed. Was he really talking fast?

[@HexerPsy]

SangoProductions21 Well i think so - though you are used to something else probably. Compared to Hank's vlogs I think the guy talks fast. And Hank articulates better. Im hoping the guy will be more comfortable with the prompter so he will suffer less from swallowing words when he should finish them. I do think, considering this is educational material - it should go at a comfortable speed. He may be a teacher in front of a natively english class - here he has an international audience that requires a different pace. In terms of CrashCourse having an international educational audience, it should go at a comfortable pace, and he and the director should be mindful of that. Relatively speaking, even Hank slows down in his CrashCourse videos to be more clear on the material. Their material is on point, a pun here and there, but mostly comfortable to listen to and absorb. Here im having to focus on wtf the guy is trying to say, and that totally misses the point... Dont get me wrong - im not hating on the guy. Considering CrashCourse's quality on previous courses, with their previous host selection the critique is at its place. I hope the feedback will pick up enough steam so that new episodes in shooting will see a new, slower pace.

[@SangoProductions213]

Wow....useful, constructive feedback. Am I in heaven?

[@cannonfodder8907]

"walking home in the rain is worse than the teeny tiny chance of dying in a car crash" getting wet

[@ameliahilton2869]

My teacher is actually making us watch this video from home

[@mihirkumar8832]

There are channels and videos like these, and then there are videos like Anaconda by Nicki Minaj with 591 million views. Humanity deserves all it's crises.

[@sheepbow909]

when you came here to study *sees meme* me *this.. does bring a smile to my face*

[@stomedyfan5840]

why aam i watching this on a weekend and taking notes on this . I dont even have a class for this

[@thechanceogden]

Wow. this video comes from a time where people could openly talk about political differences. Incredible.

[@OptimalLivingVision]

thank for this awesome crash course, but I know why so many people complain about the course eventhough they get it for free, as she said no one force you to watch it.

[@12bestskater12]

I was hoping you would also explain the different economic systems as well. I already sense a bias when he said " You are pro-business because you bought that computer." I wish you would explain the different kinds of socialism, national socialism, fascism, feudalism, the different kinds of capitalism, etc. Please respond.

[@JoeDavis]

Anti-social- Socialist and keynesian economics vs classical economics

[@IONATVS]

Anti-social- Socialist They'll probably get to some of that, as some socialist policies are part of practically all modern economic systems, but the systems that work completely differently (communism, fascism, feudalism, etc.) are usually put under the banner of comparative politics, even though they have their own economics. It's just a lot to expect of a show to cover EVERYTHING when most people will only experience primarily-capitalist-with-some-socialized-services-economics. Keynesianism vs. classical econ, and the DEGREE of socialism that woks in a primarily capitalist system will almost certainly be covered at some point though because they are unresolved issues within the system, not external suggestions for replacing it entirely.

[@12bestskater12]

IONATVS Basically you have interpreted the they will make videos to outline the more 'practical' economic systems. But the dude in this series is supposed to be the person to explain the 'textbook' economic theories. Whatever. There's 40 videos. We'll have to just wait see.

[@BUD7H357UD]

Anti-social- Socialist There is only one kind of capitalism and that's Anarcho-Capitalism. Everything else is socialism, and socialism is evil.

[@IONATVS]

BUD7H357UD I think Adam Smith, the man who DEFINED the economic theory of capitalism would disagree with you. Even HE felt the government had the right and duty to control entirely (what we today would call "socialize") some aspects of society where capitalist incentive would have the opposite effect of what's desired. The military and police (required to prevent people from taking stuff through non-market means) and education (required to have people participate in the market intelligently) were the only 2 he mentioned specifically, but I don't think the man would take too kindly to the accusation that common sense regulations to protect the consumer are antithetical to capitalism. BECAUSE HE COINED THE TERM. And while he believed that the invisible hand of the market did a more efficient job of helping the disenfranchised than government handouts, he still firmly believed in charity on an individual level. Because consumers ARE the invisible hand and EVERYONE is a consumer. In short: Adam Smith wasn't a lassez-faire anarcho-capitalist, because that isn't Capitalism. Capitalism is a system designed so that self-interest can (in theory at least) be harnessed to benefit the public interest, but it only works WHEN PEOPLE PLAY BY THE RULES! (and, like all known economic and political systems, would only work perfectly if the people within it were perfect, a fact he OPENLY admitted) Sorry to rant, but it's a pet peeve of mine when I hear people completely misrepresent people's theories to spin it for their own political ends. If you want to be a libertarian or an objectivist or an "anarcho-capitalist," fine. Everyone has a right to their opinion, and by exploring different theories, we can come closer to understanding the full economic process, and thereby optimizing it. However, once you start saying it's the ONLY form of capitalism, you stop dealing honestly with the public. Instead of attempting to convince people that your theory is better through rational discourse, you try to pass it off AS the widely-accepted theory of capitalism to co-opt the respect that Capitalism has in mainstream society; we can't learn and grow from such discourse, only argue progressively louder.

[@JazminLantigua1]

Woah so much negativity! I myself loved this episode; Thank you so much, Crash Course Team!

[@ishaisha3739]

I am an Indian and I love watching your videos....... Love u

[@mrinal345]

So educational ! This series is pure gold ! Please cover more topics if possible :)

[@antonysandoval9223]

Am i the only one that got happy at the end of the video when i saw his belt says ACDC?

[@finnl-w9751]

omg same and then it changed to a DIFFERENT acdc belt lmao

[@MrHazardousMC]

honest feedback from me, less jokes in episodes past #1 and more education. I understand this is an intro and the objective is to pull people into the series, to get them interested, but I just hope future episodes have more substance.

[@lukaverheul5242]

I gave it a chance, I really did. red flags: "Both points of view," "You're pro-business, where do you think your copmuter came from." Can not fathom calling yourself qualified and saying these things with a straight face

[@Eric-jb1ym]

Thanks for doing this. I minored in economics but it's nice to have a refresher plus it's just fun. Reading let's say the WSJ or Financial Times and understanding the underlying concepts is awesome

[@katherinelynch4193]

Not an Econ student, I'm looking to maximize Muppets in my life

[@DanielPerez-jv7nm]

These courses are so extremely entertaining.. Love your CrashCourse material. I have watched the entire economics playlist in order to study for my BEC exam for the CPA. I can only wish that you guys made a course for Accounting that way I can have fun studying for such a difficult exam. Enjoy all these vids! Thank you!

[@samyjoseph4798]

I can't believe all this knowledge it's here and free

[@sunnyyoda5511]

when i was taking economics i was miserable but here this video makes, all this sound extremely interesting! great job, i loved the video

[@Kropotkin2000]

4 minutes in. I regret clicking on the video, but I'm a sucker for the sunk cost fallacy.

[@gudrh4024]

"... Everything has a cost..." *Audible note taking*

[@everything_mo]

thank you all for this!

[@clairec9745]

Good video, plan to work my way through some of them. I'm a Geography student who has just started a course in International Economic History with no previous studies in either economics or history!

[@feynstein1004]

You might want to check out Geography Now. They make geography quite interesting. Or maybe it's because I simply find geography quite interesting.

[@betweentheroses]

Im watching this to get a head start on my new economic class coming up when school starts

[@pineapplefeathers]

how's it going so far ?

[@__________________4241]

I’m a HS junior and I want to major in econ. I’m giving myself an intro with these videos.

[@catherinepangilinan7773]

This whole 13 seconds made me so excited to learn economics gahhhhhhhh cant wait

[@justindie7543]

Mr. Clifford kinda looks like Mark Cuban, Billionaire.

[@sundhaug92]

Hyrum Diesen Yeah, I thought it was him

[@theog.5197]

Jacob and Adriene, I must let you know that you are doing a wonderful job! It is true that I do not care who provides me information, as long as it's correct and I have something to learn (therefore the presence or absence of John Green doesn't interest me) but I have grown fond of you in mere minutes. This course is much much better than my high-school classes. I didn't find it too slow and it's engaging. Thank you!

[@TheKiwiColonel]

Extremely interesting and useful video, thank you so much!!

[@entlestove4318]

i love when my classes make me watch crashcourse vids

[@BineroBE]

The title is flawed. This is the study of free market economy. They said they aren't pushing a liberal or conservative political agenda on us, which is correct. They are still pushing ideas on us though, being capitalism is good.

[@aliensinnoh1]

Even democratic socialists are capitalists. The Nordic countries have capitalist societies, just heavily regulated and taxed ones.

[@BineroBE]

William Stockhecker Democratic socialism just like ice cream is water. There is more to it. Capitalism is a type of economy where everything is privately owned, something far from the case in most European countries.

[@aliensinnoh1]

Jeroen Bollen "Capitalism is an economic system and a mode of production in which trade, industries, and the means of production are largely or entirely privately owned." - Wikipedia. Key word = largely, not everything. Are you telling me Ikea and Husqvarna are not privately owned? "The Nordic model (or Nordic capitalism) or Nordic social democracy) refers to the economic and social models of the Nordic countries (Denmark, Finland, Norway, Iceland, Greenland, Faroe Islands and Sweden), which involves the combination of a free market economy with a welfare state." - Wikipedia. free market = capitalist, with socialist welfare.

[@IlluminatiScorpio]

Jeroen Bollen Do you really have a better option, which actually works in reality? Capitalism on itself works just fine and natural, it is when strong elements of corporatism is mixed in to it or someone (like the state) goes in and bail out a loosing part (like a bank) things fuck up. Capitalism is at least the most innovative economic system when it works properly. Central planed socialism on other hand have time and time again failed to satisfy peoples real needs in a real world context. Mixed economic systems only work well when you let it play by capitalisms rules, where the state keeps its hands off, and are not trying to actively steer markets into crating something for which there are no real demand, or force it to "beat a dead horse". Regulations works best when they are general, absolute, but at the same time somewhat loose. There are on the other hand plenty of examples of "socialist" ideas benefiting greatly from the capitalist supply and demand system, creating innovative solutions as they go along often spontaneously, "sharing economy" for instance, is one such example... :)

[@BineroBE]

William Stockhecker The only reason it says that on Wikipedia is because otherwise capitalism wouldn't exist. As such if something is largely capitalistic, we consider it a capitalism.

[@annachris4158]

Good episode, well formulated, well presented. Just one or two things; could the guy talk a bit slower and clearer, he's sometimes hard to follow. Also, it's not nessecary to "act personable". Yes, this channel has a young audience but you can just be yourself as a presenter you don't have to put on an exaggerated persona to capture our attention. Cool that you're discussing economics though, very relevant :)

[@annachris4158]

Anna Chris the guy's speaking got better near the end

[@aprilsavell3165]

Anna Chris I thought he also talked fast too!

[@MrPrince437]

Mr clif is known for talking too fast so that wasn't a surprise haha

[@ArjunTheCreator8]

You two make Economics fun! Thank you for having great humor!

[@Ablotamized]

economics is very important in life!

[@S4R1N]

+1 For AC/DC buckle

[@carriannekelly997]

Did you notice the buckle change? +2

[@feynstein1004]

Thunderstruck!!

[@BHxSnoip]

[AND WOMAN] nope out

[@CaptainPIanet]

Yung Bueno Lol are you gonna cry?

[@1Dyermaker]

Captain Planet he's a hero, gonna put pollution down to zero! [Sorry but the song has been stuck in my head for the longest time ever, and I hope those who read this remember that song and have it stuck in their head as well.

[@WWIIAMAN]

Derek Duran Don't cut yourself on that edge.

[@joshn2564]

Yung Bueno Why did they do that?

[@ashlantis4561]

Yung Bueno wow you're... sexist.

[@zhennixx6169]

Thanks. I chose economics at school and am so excited. Hope I get it.

[@krismemolah4193]

Zhenni Xx how did it go, in one year I also plan into getting in economics

[@ariannafranchetto5829]

I recommend, for people like me, who don't speak and understand English perfectly, to watch this video at the 0.75 speedness level: much easier!! :)