Great job explaining the evolution of markets and their relationship with institutions. This is a much better way of approaching economics compared to the fantasy perfect competition model (which should only be introduced considerably later).
Thank you! Obviously I agree 🙂. When. I was teaching principles I also always started with a double auction experiment, so they could see how individual preferences and costs turn into market demand and supply.
It would be nice if more economics teachers thought more critically about how to introduce the subject rather than just following the standard textbooks. By the time I took my first formal economics class, I had already read Von Mises Human Action, Rothbard's Man, Economy, & State, and Power and Market, and others, so I ground my teeth as we went through perfect and imperfect competition.
I'm going to have to listen again but what a brilliant idea of I understood correctly. Going to let it simmer in sub then look again tomorrow. Regardless, something awesome you have seeded.
Great job explaining the evolution of markets and their relationship with institutions. This is a much better way of approaching economics compared to the fantasy perfect competition model (which should only be introduced considerably later).
Thank you! Obviously I agree 🙂. When. I was teaching principles I also always started with a double auction experiment, so they could see how individual preferences and costs turn into market demand and supply.
It would be nice if more economics teachers thought more critically about how to introduce the subject rather than just following the standard textbooks. By the time I took my first formal economics class, I had already read Von Mises Human Action, Rothbard's Man, Economy, & State, and Power and Market, and others, so I ground my teeth as we went through perfect and imperfect competition.
I'm going to have to listen again but what a brilliant idea of I understood correctly. Going to let it simmer in sub then look again tomorrow. Regardless, something awesome you have seeded.
Thanks! How are you listening? Do you have a text-to-audio converter you recommend?
I have tried many and simple and easiest no hassle has been tell me. Especially when googs has an attitude day lol.
I shared this on my LinkedIn hope it's ok