Reblogged on kommonsentsjane/blogkommonsents.
For your information.
Yesterday, in Part I of this series, we enjoyed a video from the U.K.-based Centre for Economic Education, about how capitalism lifted the world from deprivation and oppression (also see videos by Don Boudreaux and Deirdre McCloskey).
Today, in Part II of the Case for Capitalism, here’s a video from CEE that explains how markets provide you a cup of coffee.
An obvious takeaway from the video is that consumers benefit from global markets, which hopefully helps to explain why free trade is desirable.
But there are four other messages that are even more widely applicable.
- Capitalism is based on competition, but also should be understood as a system of cooperation.
- Voluntary exchange means that both buyers and sellers expect to benefit from a transaction.
- Prices should be set by unfettered markets rather than politicians, regulators, or bureaucrats.
- Our prosperity is a result of the invisible hand
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