We're discussing the myth of the benefits of war, which goes something like this: "Doesn't war, death and destruction have positive consequences for the economy? Just look at how many people have jobs due to rebuilding ruined cities and infrastructure".
Learn Austrian Economics in a fun way!

LINKS
BLOG:
ANIMATIONS: https://toin.pl/en/

SUPPORT our project: http://bit.ly/2fgJR9e

Visit our website: http://econclips.com/
Like our Facebook page: http://bit.ly/1XoU4QV
Subscribe to our YouTube channel: http://bit.ly/1PrEhxG

00:00 - The myth of post-war prosperity as a variation on the myth of broken window
01:57 - First mistake: confusing needs with demand
03:44 - Second mistake: confusing purchasing power with quantity of money
04:22 - Quick announcement
04:47 - Third mistake: confusing interests of individual industries with the interests of society as a whole
06:10 - The fourth mistake: confusing "building new stuff in place of the old stuff" with the development of the economy
07:52 - Summary

★★★★★★★★★★★★★★★★★★★★★★★★★★

Music on CC license:

Kevin MacLeod: Home Base Groove – na licencji Creative Commons Attribution (https://creativecommons.org/licenses/...)
Źródło: http://incompetech.com/music/royalty-...
Wykonawca: http://incompetech.com/

★★★★★★★★★★★★★★★★★★★★★★★★★★

#War #Wars
#Economics #Capitalism #Finance
#EconClips

Econ Clips is an economic blog. Our objective is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, inflation, money, investing, monetary systems, financial markets, financial institutions, cental banks, wealth, financial crises and business cycles. If you want to know how the economy works and understand why it works this way - join us on econclips.com and learn Austrian Economics in a fun way!









Relevant Tags:
econ clips, econclips, austrian economics, austrian school of economics, capitalism, free market, economics, economics explained, market inflation, price index, macroeconomics, economic crisis, economic crisis 2022, 2022 economic crisis explained, finance