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So you wanna change the world? Big Ideas Live! with Isaac Morehouse [Video]

MAY 14, 2014

On April 7, 2014, Big Ideas Live! host Janet Neilson interviewed Isaac Morehouse of Praxis about entrepreneurship and changing the world.

MULTIMEDIA - PODCAST

Specialization and Wealth

SEPTEMBER 26, 2013 by DWIGHT R. LEE

In this podcast, Dwight Lee explains how specializatoin, voluntary exchange, and cooperation lead to an increase in productivity and wealth accumulation. (9:15 minutes)

MULTIMEDIA - PODCAST

Social Cooperation and the Marketplace

SEPTEMBER 26, 2013 by DWIGHT R. LEE

The social cooperation that results from the information and incentives communicated through the market is not perfect. But no other economic system comes remotely close to the market in allowing people to achieve their objectives in productive cooperation with each other. (8:44 minutes)

MULTIMEDIA - PODCAST

Sacrificing Lives for Profits

SEPTEMBER 26, 2013 by DWIGHT R. LEE

When people willingly accept risks to acquire things they value, they are putting a price on their lives--telling us with their actions that the marginal value of their lives is less than the often quite low value they realize from overeating, not exercising, driving too fast, and so on. (8:40 minutes)

MULTIMEDIA - PODCAST

Running Out of Agricultural Land

SEPTEMBER 26, 2013 by DWIGHT R. LEE

Fear that we are running out of important resources like agricultural land is perpetual, but in most cases, this fear is baseless. In this podcast, Dwight Lee explains the role of property rights in preventing the depletion of resources. (8:48 minutes)

MULTIMEDIA - PODCAST

Private Property and Oppurtunity Costs

SEPTEMBER 26, 2013 by DWIGHT R. LEE

Markets promote the general interest by revealing costs while governments commonly favor special interest by concealing those costs. In this podcast, Dwight Lee discusses opportunity costs by introducing the critical role of private property. Private property lies at the foundation of market economies because without private property, and the exchange it fosters, people would be unable to consider the full costs of their decisions. (8:22 minutes)

MULTIMEDIA - PODCAST

The Power of Incentives

SEPTEMBER 26, 2013 by DWIGHT R. LEE

The surest way to get people to behave in desirable ways is to reward them for doing so--in other words provide them with incentives. Even when you acknowledge that incentives are necessary, it is not obvious how to establish the ones that motivate desirable action. (8:19 minutes)

MULTIMEDIA - PODCAST

Politics and Foreign Trade

SEPTEMBER 26, 2013 by DWIGHT R. LEE

With rare, and typically short-lived exceptions, governments reduce economic productivity and their citizens' prosperity by either taxing or imposing quotas on imports. This is because when a trade restriction is being considered, politicians will hear plenty from those favoring the restriction and little from those harmed by it. The result is a bias toward providing concentrated benefits and ignoring much larger but dispersed costs. (7.51 minutes)

MULTIMEDIA - PODCAST

Opportunity Costs and Hidden Inventions

SEPTEMBER 26, 2013 by DWIGHT R. LEE

By suppressing profits, socialism reduces the opportunity cost of keeping new products out of the hands of the public, whether by design or by default. As long as we allow the pursuit of profits in the marketplace, the cost of hiding new socially valuable inventions will be so high that we don't have to worry that they will be hidden. (9:10 minutes)

MULTIMEDIA - PODCAST

Opportunities and Costs

SEPTEMBER 26, 2013 by DWIGHT R. LEE

In this podcast, Dwight Lee explains that, because of scarcity, every time we do one thing we necessarily have to forgo doing something else desirable. So there is an opportunity cost to everything we do, and that cost is expressed in terms of the most valuable alternative that is sacrificed. (8:45 minutes)

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