Contrary to popular belief, economic policies are moral issues. Additionally, understanding good government cannot be divorced from understanding sound economics. Much of what we deal with in government are actually economic questions.
This session (split in two parts) explains the competing economic systems and the moral implications of each of them. IPS President, Mike Winther, introduces the concepts of capital and profit. Digging further, Mike provides a more thorough understanding of supply, demand, money, prices, and inflation. Several examples relating to micro and macro economics are explained.
Beyond the principle argument of why socialism is wrong, Mike demonstrates why socialism fails practically. Tune in for a tropical island scenario of ten families living in a socialist system.