Econ 101: How Do People and Markets Work? | This Week's Economy Ep. 115

​In This Week’s Economy episode, Dr. Vance Ginn emphasizes returning to fundamental economic principles. He discusses the rationality of human behavior, the functionality of markets, and the detrimental effects of government intervention. By exploring concepts such as opportunity cost, market signals, and subjective value, he advocates for a free market approach that respects individual choices and promotes prosperity. The conversation highlights the need for clear market signals and the dangers of government distortions in the economy. To push back effectively, we must return to the basics: Econ 101. Markets work. And we are better off when we allow them to do so.

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(0:00) - Back to Economic Basics
(3:02) - Understanding Human Rationality
(5:52) - The Functionality of Markets
(9:08) - The Interplay of People and Markets
(11:56) - Applying Economic Principles Today
(15:07) - The Case for Market Respect