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Basics of price inflation and the CPI (consumer price index) More
Added Feb 14, 2012
Channel Education
Duration 7:32 | views 10226
VIP Comments 0
Recent Comments 23
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Tags macroeconomics cpi
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Recent Comments (23)
ivanjrt Says:
of course it would operate and even better. We have to understand that the government did not invent markets nor money. A market does not need government control. Of course it is desireable to punish fraud and enforce contracts by government action but that should be the ONLY role of government. Every new power given to government necesitates even more gov internention in global markets, one day there is very little production and too many resourcse directed just for the corruptoin of gov.
newmusashi1 Says:
but, could a modern global economy operate without government intervention? :0
debbiechickie5 Says:
You are speaking waaaaaayyy too quickly on this vid. On introductory vids, you should go *much* slower to give the brain time to process what you are saying. Info needs time to sink in when you are first coming into contact with a subject. Thanks.
renamorcen Says:
too difficult for me...Y I SO STOPID ?
ivanjrt Says:
Hey! Secondwindd.... Yes, the Austrian school has been refuted but that does not prove anything other than the fact that Keynesianism has been proped up by all governments because the theory promotes big gov intervention. This system benefits the gov and a few corporations, of course they will downplay the importance of the Austrian theory.
jsymons1985 Says:
I love the South Park calculator
omgiheartpie Says:
I'm a Keynesian actually, and you pretty much summed up what I've thought all along.
SecondWindd Says:
Besides, the Austrian school has been completely refuted and has no backing from any credible economist in the world. I really doubt that Sal would support it especially considering that he is not an economist and is not very deep into the subject matter.
SecondWindd Says:
On the contrary, you said what you think he said. You are making a judgement without evidence to back it up. Maybe you are a fan of the Austrian School and you would like Sal to be too. I really doubt that he is a supporter of the Austrians considering that he is coming from MIT which is basically the stronghold for Keynesians and a big percent of the world's credible economists have graduated there.
PADDYDETHECUS Says:
Ben Bernanke disliked this. ..I know...old phrase, but worth it
frozzirk Says:
Sal, can you help explain the cost-push and benefit-pull?
omgiheartpie Says:
The principal and defining tenet of Austrian economic theory after unfettered markets is the notion that free market economies inevitably produce general price deflation and that inflation is strictly defined as an increase in the money supply. I'm not making any value judgments as your comment seems to imply; I'm simply deducing from his comment and apparent interpretation of how a free market economy should partly work that he wouldn't favor Quantitative Easing.
stretchyrubberbands Says:
Sal, could you do a video explaining the difference between Laspeyres and Paasche price indices for inflation? It would really be appreciated!
xcvsdxvsx Says:
QE is just a symptom of a larger problem. The US government enforces a monopoly on the legal tender in our country which is issued by a privately owned corporation called the federal reserve. Every federal reserve note in existence is created as the principal on a loan so the interest on this debt can only be repayed by borrowing ever greater amounts of money. I beg you to watch this video, it is probably the most important video you will ever see /watch?v=Dc3sKwwAaCU
SecondWindd Says:
And how do you know that if I may ask?
omgiheartpie Says:
no he wouldn't. He subscribes to Austrian economic theory.
pizzahaleem Says:
awesome
baydood510 Says:
You agree with quantitive easing?
xcvsdxvsx Says:
when ever i use the word inflation i have been referring to an increase in the money supply O.o since in a free market economy prices should naturally fall, the prices of goods will not accurately reflect an increase or decrease in the purchasing power of your money, i.e. everything can become less expensive and the value of your currency can decrease both at the same time, this is why taxation through inflation is so absurdly effective
andreirocks1992 Says:
Hi there! Can you do more Science videos please :) ? You were on to something with Computer Science, and Physics.
helleland Says:
Do cosmological inflation next :)
axblake1 Says:
Great video! Thanks man :)