26 | Progress and Wealth Creation
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).
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?
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.