26 | Progress and Wealth Creation

Adam Smith believed that nations become wealthy when they are free to produce whatever is in the greatest demand and sell it wherever demand is greatest.

What Caused The Economic Boom of Wealth - Learn Liberty

In this Economics Made Easy video, we talk about the history from where we started to where we are today, because of the economic boom of wealth in our modern society.

Read more

What Caused The Economic Boom of Wealth - Learn Liberty

In this Economics Made Easy video, we talk about the history from where we started to where we are today, because of the economic boom of wealth in our modern society.

What Caused The Economic Boom of Wealth? - Learn Liberty

Entrepreneurship Specialization Transaction Cost

Are Entrepreneurs Modern Day Heroes?

Entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes.

Read more

Are Entrepreneurs Modern Day Heroes?

Entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes.

Are Entrepreneurs Modern Day Heroes?

Entrepreneurship Transaction Cost

NewThe Theory of Economic Value | Advanced

This advanced level paper, by Michael Huemer, discusses and compares various theories of economic value.

Read more

The Theory of Economic Value | Advanced

This advanced level paper, by Michael Huemer, discusses and compares various theories of economic value.

Equilibrium Price Subjective Value Value

Related Resources

Transaction Cost

Specialization

Entrepreneurship

Value

Subjective Value

Equilibrium Price

What Caused The Economic Boom of Wealth - Learn Liberty

In this Economics Made Easy video, we talk about the history from where we started to where we are today, because of the economic boom of wealth in our modern society.

What Caused The Economic Boom of Wealth - Learn Liberty

In this Economics Made Easy video, we talk about the history from where we started to where we are today, because of the economic boom of wealth in our modern society.

What Caused The Economic Boom of Wealth? - Learn Liberty

Entrepreneurship Specialization Transaction Cost

Are Entrepreneurs Modern Day Heroes?

Entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes.

Are Entrepreneurs Modern Day Heroes?

Entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes.

Are Entrepreneurs Modern Day Heroes?

Entrepreneurship Transaction Cost

How Do You Build a Toaster...From Scratch?

Designer Thomas Thwaites explains what compelled him to build a toaster, literally from the ground up.

How Do You Build a Toaster...From Scratch?

Designer Thomas Thwaites explains what compelled him to build a toaster, literally from the ground up.

markets Specialization

How to Make a $1500 Sandwich in Only 6 Months

I spent 6 months and $1500 to completely make a sandwich from scratch. Including growing my own vegetables, making my own salt from ocean water, milking a cow to make cheese, grinding my own flour from wheat, collecting my own honey, and killing a chicken myself.

How to Make a $1500 Sandwich in Only 6 Months

Market Power markets Specialization

Episode 586: How Stuff Gets Cheaper - Planet Money

Today on the show, we visit a company called Monoprice. And we go into a room where people sit all day and try to make stuff get cheaper.

Episode 586: How Stuff Gets Cheaper - Planet Money

Today on the show, we visit a company called Monoprice. And we go into a room where people sit all day and try to make stuff get cheaper.

Specialization

Crate & Barrel: Gordon Segal

In 1962, Gordon Segal — with his wife Carole — opened a scrappy Chicago shop called Crate & Barrel. That store turned into a housewares empire that has shaped the way Americans furnish their homes.

Crate & Barrel: Gordon Segal

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99 per cent invisible: 99 per cent details, Ep. 04

It’s a stick with bristles poking out of it. It doesn’t even qualify as a simple machine, but the careful thought and design that went into the creation of the modern, angled bristle, fat handled toothbrush shows just how much brainpower goes into something that is designed to simply work well and not be noticed all that much (until it’s time to buy the next one).

99 per cent invisible: 99 per cent details, Ep. 04

99% Invisible-04- 99% Details.mp3

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Episode 601: The Chocolate Curse - Planet Money

Today on the show, we learn about one man in Ecuador who came up with an answer to the global cocoa shortage

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Entrepreneur Magazine

Entrepreneur is an American magazine and website that carries news stories about entrepreneurship

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Entrepreneurship is important for a number of reasons, from promoting social change to driving innovation.

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Entrepreneurship

SCAMPER - M.I.T. Brainstorming

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SCAMPER - M.I.T. Brainstorming

It can often be difficult to come up with new ideas when you're trying to develop or improve a product or service. This is where creative brainstorming techniques like SCAMPER can help

It can often be difficult to come up with new ideas when you're trying to develop or improve a product or service.

This is where creative brainstorming techniques like SCAMPER can help. This tool helps you generate ideas for new products and services by encouraging you to think about how you could improve existing ones.

We'll look at SCAMPER in this article and infographic

Capital Entrepreneurship

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Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Learn how each of these are defined in this video.

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Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Learn how each of these are defined in this video.

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TEDxMidAtlantic 2010 - Saras Sarasvathy

When we turn on our bedside lamp, we know that Edison the inventor had something to do with it. But what about Edison the entrepreneur?

TEDxMidAtlantic 2010 - Saras Sarasvathy

When we turn on our bedside lamp, we know that Edison the inventor had something to do with it. But what about Edison the entrepreneur?

TEDxMidAtlantic 2010 - Saras Sarasvathy - 11/5/10

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What does innovation look like? Steve Jobs explains the difference between a good idea and a good product.

Steve Jobs: Product Development, From Idea to Product

What does innovation look like? Steve Jobs explains the difference between a good idea and a good product.

Steve Jobs: Product Development (From Idea to Product) Reference: Excerpt from Steve Jobs interview in 1995 with Robert Cringely, the interview is called "The Lost Interview"

Steve Jobs: Product Development (from Idea to Product)

Entrepreneurship

Why Entrepreneurial Companies Need a Visionary And An Integrator

Did you know it takes two types of leaders at the helm of a 10-250 person entrepreneurial organization to have the “Rocket Fuel” it needs to hit the next level? They’re known as the Visionary and the Integrator.

Why Entrepreneurial Companies Need a Visionary And An Integrator

As a Visionary entrepreneur, your passion, drive and creativity are the key elements that helped launch your business and fuel your company’s growth. But now… your company is growing and you’re swamped with an overwhelming workload, your engine is sputtering, stalling and your momentum stagnating. Every great Visionary hits this threshold. Enter the Integrator. You need someone detail-oriented, who knows how to keep the team harmonious and productive, is great at resolving conflict, and can execute detailed plans for maximum results. That will give YOU the freedom to focus on what you were built to do-- blast off and catapult your company to its full potential.

Why Entrepreneurial Companies Need a Visionary and an Integrator

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NewAdvancedIntroduction: The Sixteen-Page Economic History of the World | Advanced

The basic outline of world economic history is surprisingly simple. Indeed it can be summarized in one diagram: figure I.I

Introduction: The Sixteen-Page Economic History of the World | Advanced

The basic outline of world economic history is surprisingly simple. Indeed it can be summarized in one diagram: figure I.I

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Would You Give Up the Internet for $1 Million

The number of Internet users worldwide has now surpassed two billion and so many of us have integrated the web into our lives so much that it's hard to quantify how much it's worth to us. But why not give it a shot? Think about it. How much would someone have to pay you to give up the Internet for the rest of your life? Would a million dollars be enough? Twenty million? How about a billion dollars?

Would You Give Up the Internet for $1 Million

Value

Your New Year's Resolution Has Already Failed

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Your New Year's Resolution Has Already Failed

Did you set a New Year's resolution for yourself? Is your resolution flourishing or did you forgo it entirely? This video explores why resolutions fail, and how to help yours succeed.

Your New Year's Resolution Has Already Failed

Value

NewThe Theory of Economic Value | Advanced

This advanced level paper, by Michael Huemer, discusses and compares various theories of economic value.

The Theory of Economic Value | Advanced

This advanced level paper, by Michael Huemer, discusses and compares various theories of economic value.

Equilibrium Price Subjective Value Value

NewAdvancedBeyond Shallow Pond | David Schmidtz | Advanced

David Schmidtz's reply to Peter Singer from the forthcoming "Reinventing the Moral Sciences"

Beyond Shallow Pond | David Schmidtz | Advanced

David Schmidtz's reply to Peter Singer from the forthcoming "Reinventing the Moral Sciences"

3. Shallow Pond.docx

view | download 30.86 KB

Ethics Value

Episode 613: Trash!

One day it's profitable to recycle a bottle. The next day, some number in the global economy changes and that bottle suddenly becomes trash. The line between trash and recycling is moving a lot these days. For a bunch of reasons, it's a tough time to be a recycler.

Episode 613: Trash!

Objective Value Subjective Value

Ep. 5: A Bee's Invoice: The Hidden Value in Nature | Adrian Grenier

Why should nature be taken into account when looking at the economy as a whole? A Bee's Invoice uncovers and incorporates the hidden value of natural capital in the measurement of our economy.

Ep. 5: A Bee's Invoice: The Hidden Value in Nature | Adrian Grenier

Why should nature be taken into account when looking at the economy as a whole? A Bee's Invoice uncovers and incorporates the hidden value of natural capital in the measurement of our economy.

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Ep. 7: The Second Part of That Film About Money | James Schamus

What do banks do with our deposits? You think that banks are where your cash is stored and safeguard and that a dollar bill is money. Well, you’re wrong. Like, really wrong.

Ep. 7: The Second Part of That Film About Money | James Schamus

What do banks do with our deposits? You think that banks are where your cash is stored and safeguard and that a dollar bill is money. Well, you’re wrong. Like, really wrong.

Ep. 7: THE SECOND PART OF THAT FILM ABOUT MONEY | James Schamus

Money Subjective Value

Ep. 6: That Film About Money| James Schamus

What is the real value of a dollar? You think that a dollar bill is money and that banks are where your cash is stored and safeguarded. Well, you’re wrong. Like, really wrong.

Ep. 6: That Film About Money| James Schamus

What is the real value of a dollar? You think that a dollar bill is money and that banks are where your cash is stored and safeguarded. Well, you’re wrong. Like, really wrong.

Ep. 6: THAT FILM ABOUT MONEY | James Schamus

Money Subjective Value

Episode 759: What's it Worth To You?

Three short stories about putting a price on something hard to value precisely. We go from $4.66 under a pillow all the way up to $1 trillion across every inch of highway in America

Episode 759: What's it Worth To You?

Three short stories about putting a price on something hard to value precisely. We go from $4.66 under a pillow all the way up to $1 trillion across every inch of highway in America

Subjective Value

What is Money?

That may seem like a really simple question, but it’s actually kind of complicated. Paper bills and coins, or currency, is obviously money. But it doesn’t end there.

What is Money?

That may seem like a really simple question, but it’s actually kind of complicated. Paper bills and coins, or currency, is obviously money. But it doesn’t end there.

What Is Money?

Barter Coinage Marginal Value Objective Value Subjective Value

Exploring Equilibrium

In this video, we’ll review equilibrium in the adjustment process, showing that the equilibrium price is the only stable price. Then we’ll take a look at equilibrium quantity, where quantity demanded is equal to quantity supplied, and how this plays out in a free market economy that seeks to maximize gains from trade.

Exploring Equilibrium

Demand Equilibrium Equilibrium Price Supply

Episode 993: Negative Oil | Planet Money

What just happened to the price of oil, and what does it tell us about the world?

Episode 993: Negative Oil | Planet Money

What just happened to the price of oil, and what does it tell us about the world?

Demand Equilibrium Price

Sections

Introduction
Part 1: Key Concepts
Part 2: Progress
Part 3: Understanding Trade
Part 4: Trust, Agency, and Bystanders
Part 5: Management of a Commercial Society
Part 6: Personal and Business Finance
Part 7: Innovation and Entrepreneurship

Search form

26 | Progress and Wealth Creation

What Caused The Economic Boom of Wealth - Learn Liberty

Are Entrepreneurs Modern Day Heroes?

NewThe Theory of Economic Value | Advanced

Related Resources

What Caused The Economic Boom of Wealth - Learn Liberty

Are Entrepreneurs Modern Day Heroes?

How Do You Build a Toaster...From Scratch?

How to Make a $1500 Sandwich in Only 6 Months

Episode 586: How Stuff Gets Cheaper - Planet Money

Crate & Barrel: Gordon Segal

99 per cent invisible: 99 per cent details, Ep. 04

Episode 601: The Chocolate Curse - Planet Money

Entrepreneur Magazine

Why Entrepreneurship Is Important to the Economy

SCAMPER - M.I.T. Brainstorming

Four Factors of Production - Khan Academy

TEDxMidAtlantic 2010 - Saras Sarasvathy

Steve Jobs: Product Development, From Idea to Product

Why Entrepreneurial Companies Need a Visionary And An Integrator

NewAdvancedIntroduction: The Sixteen-Page Economic History of the World | Advanced

Would You Give Up the Internet for $1 Million

Your New Year's Resolution Has Already Failed

NewThe Theory of Economic Value | Advanced

NewAdvancedBeyond Shallow Pond | David Schmidtz | Advanced

Episode 613: Trash!

Ep. 5: A Bee's Invoice: The Hidden Value in Nature | Adrian Grenier

Ep. 7: The Second Part of That Film About Money | James Schamus

Ep. 6: That Film About Money| James Schamus

Episode 759: What's it Worth To You?

What is Money?

Exploring Equilibrium

Episode 993: Negative Oil | Planet Money