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3rd person to comment! YAY!!!*
*3rd times a charm 🙂
Sal when will you upload physics with calculus
What about Islamic Economy ?? Where you're allowed to get rich, but you have to donate certain part of your wealth for charity annually.
Why hasn’t this video attracted more views? It’s one of the best explanations and descriptions on the topic I’ve seen.
apples grow on trees!!!
12th person to comment
If everyone had a say in government and the government is run by the people, the people would decide who got what. It wouldn't be like this overlord telling everyone. It would be the people saying in this area the demand for that is about this % we need to distribute out enough for the people in that area. And since the government is the people, they would always look out for all peoples interest, not tainted by profit or gain, but looking to give what everyone needed. That is if the government is actually run by the people. It would be better though if you had local statisticians working out what is needed and what people want in that area, and working out if it can be done. This would all be about the best interest of the people. It would not be about setting up those in government with power as I said the government should be run by all people. But that is my view point. It would be about people working for the people, in which the government would just be a building in which all people decided what is for the best.
Once technology advances enough, a car could become a representation of any design a person wants. Imagine a profile page with it's own style, when you get in a car you could have it looking like your own personal style. But even then a car isn't really about making a statement, it's about getting from a to b. But the point of styling is to keep the world interesting. Never a dull moment. We should be working on technology that can be the style a person wants on demand. This would not affect the hardware or software. Imagine lego blocks with motors, on a tiny scale. That can be formed in a pattern we like. The style we choose would be up to us. Now with vehicles it could just be the windows styles and so on. How much it can change would depend on how much that hindered the practicality of that object. So people would have the freedom of style without having to pay for a completely new object.
Long term even the hardware could be recycled and turned in to a better version of it's self. More efficient, by taking the materials used and reforming them, and melting the metals individually and reshaping them. With software updates this already happens all the time.
Point being if everything was working as a collective and sharing new updates, then the world would progress in a way that every human got the latest and best technology. Given sometimes new materials would be needed, but that would be the only time in which a person would need something new. The rest of the time 3d printers and methods would be available in which everyone could have any design they wanted, and then select how it is to look or even hoe stringy and soft something is. This could be done with layering. Like how fabric is woven. But point being the aim would be to allow everyone to have something by creating a device which could re-make the part made. Kind of like how the human body heals it's self, but instead it could break it's self down and build in to a totally new style and feel.
You've made the assumption that a planned economy implies an authoritarian state. It does not.
7:27 Do you suppose that Isaac Newton or Rosalind Franklin or Clara Rockmore had dollar signs in their eyes when they were devoting all of their free time to their special interests? Do you really believe that people are better motivated by the desire to amass wealth than they are by curiosity, necessity, and/or social recognition of their achievements? I really don't think so.
Gee…I love the new learnings.
Great video for a high level intro of an economy (Pure Command versus Pure Market), of which does not naturally exist anywhere in the world (hence the final mention of a Mixed economy). An economy asks these 3 basic questions: 1)Who decides what goods and services are needed? 2)Who decides how those goods and services are produced and 3) Who decides how the goods and services are distributed? Based on the answers, you land in the more specific economic system discussions of Communism v Socialism v Capitalism, of which all have a range or mixed variations.
I believe the easiest concept in Economics is Supply and Demand.
Command economy/planned economy is better for my country.Ever since we adopted a market economy, prices increase and wages decrease
Reasonable number of apples*
The incentive to improve cars in a command economy is that there is less environmental damage, faster transport of goods and workers, etc. Everything functions more efficiently. A command economy government would be wise to invest in R&D.
Difference between poverty and inequality. If no one was starving or unable to work in a market economy, the US wouldn't have those social safety nets, even if the inequality was bigger than it currently is. If everyone was richer, but the rich were richerer, there'd be no social safety nets, so it's a little inaccurate to say that the US has such systems due to extreme inequality.
This is a poor explanation of socialism. I would suggest actually studying how the USSR and Mao’s China functioned if that’s what you came here for
👊 Yellow car, no returns
The Soviet Union is actually a bad example of command economies, since they were forced to transition from market to command economies, and existed in a globalised world were market economies were the norm. They they never worked properly, and failed. Better examples of command economies are the monarchies of the ancient world, notably the Hittites, the Assyrians, and most importantly, Ancient Egypt. This highly organised command economy lasted for thousands of years, international trade flourished, and made Egypt the wealthiest and most powerful civilisation of the ancient world before the Bronze Age Collapse.
thank you for explaining these difficult words parts of economy easily!
i like khan adademy but this video is not good
Would be interested in seeing your explanation of a commune economy as anarchists idealize. I always find them intriguing, but they are arcane to me.
This is an awesome video..Thank God for Khan Academy!
My biggest concern with both command and market economies is lack of democratic participation. Both are inherently authoritarian and do not give those producing the products and wealth in society much say in how the wealth is distributed. I’m much more in favor of participatory economics. Worker councils should control industry. We should strive for a system that creates solidarity, diversity, self-management, and efficiency.
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