Monday, April 15, 2013

Why Do People Exchange?

The newest, and last, of the Learn Liberty videos I did in March 2012.  I like the way this one turned out, because it captures something everybody cares about.  Free t-shirts!

UPDATE:  One of the comments, on Youtube, was this:  "This guy looks like Patrick!"  (Which is true.  I lost 40 pounds not long after filming this video.  Pretty strange to look back at...)


russell said...


Pelsmin said...

Great, but -- if anything -- you sell free trade/capitalism short. I'm assuming you consider any transaction to be an exchange -- purchase, employment, loans, etc. At 2:15 you say that exchange makes people happier "without any change to the total wealth that was available." But since wealth is best measured in overall utility, doesn't the exchange result in an increase in wealth? That's the whole secret behind increases in GDP, quality of life, etc. without any external introduction of anything of value. The total wealth available increases precisely because of exchange.

Anonymous said...

Due to free exchange (i.e., market capitalism), the percentage of students reporting that they were happy increased from 10% to 90%. But what about the happiness of that last 10%?

That's what's wrong with you free market ideologues—you couldn't care less about that last 10%. I guess they don't count in your eyes?

This is why we need government: to step in and re-order the sorting of shirts to ensure that that last 10% is happy, making the other 90% miserable once again. Yay government!

russell said...

Anon: I believe you just nailed the essence of govt!