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Economics Is for Everyone!
Video

Economics Is for Everyone!

RSA, 2016

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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

Economist Ha-Joon Chang dispels the myth that economics is an esoteric discipline. His engaging talk, accompanied by the RSA Animate’s lively drawings, will captivate even those who detest the dismal science. Chang deftly demystifies economics and encourages everyone to be curious and to form opinions about economic policy. getAbstract recommends Chang’s unpretentious oration to those unacquainted with the field, yet even economics mavens will want to watch this pithy video to see how Chang makes the topic so accessible.

Take-Aways

  • Many people believe economics is an arcane field. Yet 95% of economics is common sense, and the remaining 5% would be easy to grasp if economists would simplify it.
  • Nine major schools of economic thought abound. No single model explains all economic phenomena; all theories are partial.
  • Neoclassical economics dominates economic thinking today, but it is a flawed concept. It assumes a positive correlation between happiness and wealth, but despite earning more, people are less happy today than a few decades ago due to greater stress.

About the Speaker

Economist Ha-Joon Chang has written several books, including 23 Things They Don’t Tell You About Capitalism.