Economic systems (Not kid approved).mp4
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Differences between command economies and market economies. Focus on mixed economy towards the end. This was created for my 20 year-old college students, so I was surprised to see feedback that it was being used by middle-school teachers. In response to that, here is a link to a revised version with the "WTF" cut out. Hope this helps: https://www.youtube.com/watch?v=cFWmiNXbrA8
Comments
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Wait, it didn't mean "Wow, That's Firewood!"?
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Jeff, the fist 10 minutes of this video are very good. But after that your socialist views take over. Greed is not a disadvantage of a free market. It is a human property that is always present no matter what economic system is attempted.
The important point that you missed is that a market economy channels people's greed into serving the needs of other people. In a socialist economy, greed always creates corruption because of socialism's use of centralized power.
Other things the video conveniently forgets to mention:
*) The total amount of national production is always less under socialism than in a market economy. So there is less to go around.
*) Under socialism, people all get an equal share but there is usually a shortage of everything and occasionally a wasted surplus. Some years you get too much food and in others you starve.
*) Socialism always collapses in the end and market economies never do. -
Teaching socialism is like teaching creationism. Since it's just fictional, it's more like art or philosophy than real world economics or science. It really shouldn't be taught in an economics class.
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i think i just pooped my pants
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Hi
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Yes I can imagine a private corporation printing the nation's currency (not money) because that's exactly what happens in any country that has a Central Bank in it!
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Can I use this video in class?
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this was boring
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it6 was that nicejjcgtdde
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Thank you for making the "middle school version"! I'm using this today in WA state.
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Very nice and informational. It was really helpful and helped me study for my test.
Thanks! -
Mr. Short, I'm the teacher who wanted you to provide a middle school-friendly version of this video. Thanks so much for doing this. Here in the States, the Common Core introduces basic economic concepts in grade 6 (11 year-olds). Thanks again for re-making the vid.... Last year, I found out the hard way that the original version was not kid-friendly..... I did manage to regain control of the classroom, however.... Best, A Public School Teacher in Georgia
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Very well done
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We Have a. Lot of problems all around the world
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The definition of socialism he gives is also off. What he's describing is more like Titoism.
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Actually, communism is not a economic system, it is the dictatorship of socialism in a one party state. There is also the marxist communism concept of a future stateless society where everything is shared. This video also fails to mention anarchist socialism, where the means of production are owned by the workers directly.
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Thanks !
this really helped me -
Nice to see and watch thanks
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Why do people compare Communism/Socialism to a classroom? Economics and Education are different! If Capitalism and Education were treated the same way, Rules would be in place to ensure a select few get the highest grades, while everyone else is given the lowest grades, wether they deserve it or not.
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Why is socialism considered a command economy since there is still some business allowed would it not be just a mixed economy that means very heavily towards command?
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