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How Markets Work

5 Units   3H 45M
Parts
  • Introduction
  • The Price System
    • Lesson 1: The Invisible Hand
    • Lesson 2: Economic Choices
    • Lesson 3: Supply & Demand
  • Pre-Conditions for Wealth
    • Lesson 4: Property Rights
    • Lesson 5: Legal Institutions
    • Lesson 6: Virtue
  • The Entrepreneur
    • Lesson 7: The Entrepreneur
    • Lesson 8: The Knowledge Problem
    • Lesson 9: Spontaneous Order
  • Money
    • Lesson 10: The National Economy, Part 1
    • Lesson 11: The National Economy, Part 2
    • Lesson 12: Monetary Policy
  • Economic Growth
    • Lesson 13: Trade
    • Lesson 14: Poverty
    • Lesson 15: The Economic Future

Lesson 14 Lesson 14: Poverty

Presented by: Dr. Tawni Ferrarini
Northwood University

Playlist

  1. Wealth and Poverty, Part 1
  2. Wealth and Poverty, Part 3

Wealth and Poverty

Have you ever wondered why poorer countries around the world have not attained the standards of living experienced in the United States or Europe? Global poverty has gained the attention of experts around the world today, but their countless remedies ignore basic economic principles and so have not solved the problem. In this lesson we will explore why a surprising alternative to solving global poverty is individual freedom.

Lesson Fourteen Quiz

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HMW Lesson 14: Poverty

Step 1 of 3

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Systems that respect individual rights do the best in the long run on economic development.

William Easterly

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h Video

Wealth and Poverty, Part 2, with Tawni Ferrarini

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h Video

The Zero-Sum Fallacy with Dr. Samuel Gregg and PovertyCure

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h Video

Hans Rosling's 200 Countries, 200 Years, 4 Minutes - The Joy of Stats - BBC Four

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h PDF

Thomas Sowell, Basic Economics, pp. 527-566. (Textbook)

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h PDF

William Easterly, “The Indomitable Pursuit of the Inexplicable: The World Development Reports’ Failure to Comprehend Economic Growth Despite Determined Attempts: 1978-2008,” pp. 121-130.

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How Markets Work

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Intercollegiate Studies Institute
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