The next installment takes a look at the ever more relevant topic of socialism. This three-and-a-half-minute video addresses a variety of economic problems that arise in a controlled economy, and why socialism becomes politically authoritarian.
In the words of Ludwig von Mises, “Socialism is an alternative to capitalism as potassium cyanide is an alternative to water.”
If you haven't yet checked out Economics for Beginners, you can do so at BeginEconomics.org. These short animated videos cover core economic topics, highlighting how economic decisions are a part of our day-to-day life. Thus far we have covered the following topics:
What Is Economics?
What is Cost?
What Is Money?
What Is Profit?
What Is Capitalism?
What Is Cronyism?
What Is Socialism?
Perfect for parents looking to supplement their child's economics education at home or adults looking to broaden their understanding of economics, the series includes discussion questions and additional readings that will ensure no one is fooled by the road to serfdom.
Thank you to everyone who has watched and shared the series so far, the response has been both inspiring and rewarding.
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