Lesson 6 Lesson 6: Virtue
Presented by: Dr. Daniel Hammond
Virtues and the Production of Wealth
Everything has its limits–including economic analyses and policy. To fully understand how markets work you have to go beyond the laws of supply and demand. Personal responsibility, trust, honesty, justice, and other virtues are building blocks. In this lesson we will explore the connection between a healthy culture and a flourishing economy.
Individuals who compete in the market and there pursue their own advantage stand all the more in need of the social and moral bonds of community, without which competition degenerates most grievously.
What we now face is a problem of cultural inequality.
Virtue and the Production of Wealth, Part 3Play Now
Shivani Siroya: A smart loan for people with no credit history (yet) (TED Talks)Play Now
Subjective vs. Objective Value: The Economist and the Philosopher (Prof. Aeon J. Skoble with Learn Liberty)Play Now
David C. Rose, “Why Culture Matters Most.”Read Now
Wilhelm Röpke, A Humane Economy: The Social Framework of the Free Market, pp. 90-103Read Now
Charles Murray, “The New American Divide,” The Wall Street JournalRead Now