crashcourse
Market Economy: Crash Course Government and Politics #46
YouTube: | https://youtube.com/watch?v=6yLY06tTQ1A |
Previous: | Outtakes #5: Crash Course Astronomy |
Next: | Government Regulation: Crash Course Government and Politics #47 |
Categories
Statistics
View count: | 678,898 |
Likes: | 8,045 |
Comments: | 655 |
Duration: | 09:39 |
Uploaded: | 2016-01-30 |
Last sync: | 2024-11-27 21:00 |
Citation
Citation formatting is not guaranteed to be accurate. | |
MLA Full: | "Market Economy: Crash Course Government and Politics #46." YouTube, uploaded by CrashCourse, 30 January 2016, www.youtube.com/watch?v=6yLY06tTQ1A. |
MLA Inline: | (CrashCourse, 2016) |
APA Full: | CrashCourse. (2016, January 30). Market Economy: Crash Course Government and Politics #46 [Video]. YouTube. https://youtube.com/watch?v=6yLY06tTQ1A |
APA Inline: | (CrashCourse, 2016) |
Chicago Full: |
CrashCourse, "Market Economy: Crash Course Government and Politics #46.", January 30, 2016, YouTube, 09:39, https://youtube.com/watch?v=6yLY06tTQ1A. |
Today, we’re going to take a look at how the government plays a role in the economy. Specifically, the way the government creates and maintains our market economic system. Now sure, the government’s role in the economy can be controversial, some may even say completely unnecessary. But there are some deficiencies in a free market, and we’re going to look at those, and the tools the government uses to combat those issues in maintaining a healthy and stable economy.
Produced in collaboration with PBS Digital Studios: http://youtube.com/pbsdigitalstudios
Support is provided by Voqal: http://www.voqal.org
All attributed images are licensed under Creative Commons by Attribution 4.0
https://creativecommons.org/licenses/...
Want to find Crash Course elsewhere on the internet?
Facebook - http://www.facebook.com/YouTubeCrashC...
Twitter - http://www.twitter.com/TheCrashCourse
Tumblr - http://thecrashcourse.tumblr.com
Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
Produced in collaboration with PBS Digital Studios: http://youtube.com/pbsdigitalstudios
Support is provided by Voqal: http://www.voqal.org
All attributed images are licensed under Creative Commons by Attribution 4.0
https://creativecommons.org/licenses/...
Want to find Crash Course elsewhere on the internet?
Facebook - http://www.facebook.com/YouTubeCrashC...
Twitter - http://www.twitter.com/TheCrashCourse
Tumblr - http://thecrashcourse.tumblr.com
Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
Hello. I’m Craig and this is Crash Course Government and Politics and today we’re going to turn to a topic that is near and dear to our wallets at Crash Course: economics.
Now, I know that dedicated fans are saying: “Hold on Craigers, you have a whole series about economics. Tell me about government.” To those fans, I say: “you’re right…and don’t call me Craigers.”
But this episode is going to be about the role that government plays in the economy, specifically, the way that government creates the market economic system that we know and love.
[Theme Music]
Before I get into the ways that government creates a market economy, let me be right up front and say that we’re going to posit that without some government, it wouldn’t be possible for a market economy to exist. [gasp] Whaaaaa?
I realize that this is a bit controversial, with many people believing that markets are natural phenomena that follow laws like “supply and demand” that are analogous to real physical laws like, say, gravity. Which is also a movie starring George Clooney - he aged so well.
This is an interesting construct and one that has important political ramifications, because if you believe in it, then basically there’s nothing that the government can, or should, do to improve the economy.
I’ll leave it to commenters to argue this point, but I stand by my statement: we wouldn’t have a market economy without government.
So economically-minded political scientists, AND politically-minded economists, will tell you that there are a number of ways that government structures the economy in the U.S. I’m going to go over eight of them, although there might be more.
So, in no particular order, here it goes. The government creates and maintains a market economy by:
- establishing law and order
- defining rules of property
- governing rules of exchange
- setting market standards
- providing public goods
- creating a labor force
- ameliorating externalities, and
- promoting competition