economics
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TED-Ed: Is Inequality Inevitable?
Income and wealth inequality are not new. In fact, economists and historians who have charted economic inequality throughout history haven’t found a single society without it. Which raises a bleak question: is inequality … inevitable? Explore how economic inequality can be measured and how it is impacted by different governmental policy choices.
What is the tragedy of the commons? - Nicholas Amendolare
Understand this crucial concept in economics and ecology.
TED-Ed: What Gives a Dollar Bill Its Value?
The value of money is determined by how much (or how little) of it is in circulation. But who makes that decision, and how does their choice affect the economy at large? Doug Levinson takes a trip into the United States Federal Reserve, examining how the people who work there aim to balance the value of the dollar to prevent inflation or deflation.
TED-Ed: Can the Economy Grow Forever?
Many economists think that an eternally growing economy is necessary to keep improving people’s lives, and that if the global economy stops growing, people would fight more over the fixed amount of value that exists, rather than working to generate new value. Which raises the question: is infinite growth possible on a finite planet? Explore how economies can balance efficiency with sustainability.
TED-Ed: These Companies with No CEO Are Thriving
Co-ops are a big part of the global economy: they employ 10% of the world’s workforce and over two trillion dollars flow through their doors every year. At a co-op, there’s no single person with overarching, top-down power over everyone else, like a CEO at a traditional company. So what exactly is a co-op and how does it work? Explore the different types of cooperatives and how they operate.
TED-Ed: The City of Walls: Constantinople
The world owes much of its cultural legacy to Constantinople’s walls. When Constantinople was under siege by neighboring enemies, the Roman city’s elaborate system of moats, outer walls, and inner walls stood tall. Surviving numerous fire attacks, the walls were eventually brought down by more modern tools of warfare, but, thankfully, classical culture survived.
TED-Ed: The Paradox of Value
Imagine you’re on a game show and you can choose between two prizes: a diamond … or a bottle of water. It’s an easy choice – the diamonds are more valuable. But if given the same choice when you were dehydrated in the desert, after wandering for days, would you choose differently? Why? Aren’t diamonds still more valuable? Akshita Agarwal explains the paradox of value.
TED-Ed: How Do We Create a Better Economy?
Can we call any economy “healthy” in the face of dwindling resources and growing inequality? What if we cut off our addiction to endless growth, and used a new compass for modern prosperity? One such compass is known as “doughnut economics,” which aims to meet the needs of people without overshooting Earth's ecological limits. Explore how this model reframes our economic systems.
TED-Ed: Is Capitalism Actually Broken?
People have become increasingly worried that the threats we face today, like climate change and rising inequality, can’t be solved by a capitalist economic system. So, is that true? And if it is, can we fix capitalism or do we need to tear the system down and build a new one from scratch? Explore the different types of capitalism and the role it plays in our society.
TED-Ed: How Will AI Change the World?
In the coming years, artificial intelligence is probably going to change your life— and likely the entire world. But people have a hard time agreeing on exactly how AI will affect our society. Can we build AI systems that help us fix the world? Or are we doomed to a robotic takeover? Explore the limitations of artificial intelligence and the possibility of creating human-compatible technology.
TED-Ed: What's the Best Country to Live In?
What’s the best country to live in? Is it the one with the best food? The longest life expectancy? The best weather? For the past 70 years, most governments have relied heavily on a single number: the Gross Domestic Product, or GDP. But it was never intended for its current purpose; and some argue that we are addicted to making it grow. Explore the different ways countries measure quality of life.
TED-Ed: What Is a Gig Economy?
A 2016 survey of freelancers in six countries found that those who freelance by choice– 70% of respondents– were happier than people in traditional jobs, specifically when it came to things like independence and flexibility in terms of where and when they work. So what does it take to be a successful freelancer? Explore the benefits and drawbacks of the gig economy.
TED-Ed: Does Trickle-Down Economics Work?
In 1981, the US economy was struggling: unemployment rates were climbing and inflation had peaked at an all-time high. To combat these issues, President Reagan introduced a number of economic policies, including tax cuts for large corporations and high-income earners. But did these policies actually stimulate economic growth or improve circumstances for Americans? Jonathan Smith investigates.
TED-Ed: What Causes Economic Bubbles?
During the 1600’s, the exotic tulip became a nationwide sensation; some single bulbs even sold for ten times the yearly salary of a skilled craftsman. Suddenly, though, the demand completely plummeted, leaving the tulip market in a depression. What happened? Prateek Singh explains the peak of a business cycle, commonly referred to as a mania.
TED-Ed: How Does the Stock Market Work?
In the 1600s, the Dutch East India Company employed hundreds of ships to trade goods around the globe. In order to fund their voyages, the company turned to private citizens to invest money to support trips in exchange for a share of the profits. In doing so, they unknowingly invented the world’s first stock market. So how do companies and investors use the market today? Oliver Elfenbaum explains.