Economic Systems and Macroeconomics: Crash Course Economics #3

Economic Systems and Macroeconomics: Crash Course Economics #3

In which Jacob Clifford and Adrienne Hill teach you about Economic Systems and Macroeconomics. So, economics is basically about choices. We’ll look at some of the broadest economic choices when we talk about the difference between planned economies and market economies. We’ll get into communism, socialism, command economies, and capitalism. We’ll look at how countries choose the kind of system they’re going to use (spoiler alert: many end up with mixed economies). We’ll also look into how individuals make economic choices.

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20 Responses

  1. Duck Man says:

    “free market enthusiasts might point out China as an example….” Bad
    example because SOEs (State Owned Enterprises) make up a large section of
    the economy

  2. youshallbemyslaves slave of unreality says:

    i love it how you quote Adam smith to justify capitalism, when he was
    specificaly anti-capitalist.

  3. Khai Jal says:

    That green shirt is horrible

  4. Matthew O'Connell says:

    Akka Dakka! Go Mr. Clifford!

  5. Andy Feng says:

    Im suprised new zealand is regarded as the right end of the spectrum since
    i consider my country to be pretty socialist in some aspects (health care,
    education, state housing etc) or more or less so than America which is what
    i would consider to be the quintessential capitalist nation.

  6. madmanwithmasck says:

    Safety net? Wtf… Not all of us have the same posibilities when we where

  7. HamHamDude says:

    “…be willing to support solutions that get the job done as opposed to
    getting stuck in one ideology.”

    Best line out of this video.

  8. M. Waheduzzaman Khan says:

    The more important thing is “What” economic decisions are taken, rather
    than “How” it is taken. Command economy can be great if the government is
    capable of making good economic decisions and executing them. Free market
    economy can be great if the market/invisible hand is capable of making good
    economic decisions and executing them. Both command and free market
    economies has proven examples of taking fantastic and terrible decisions.

  9. GelidGanef says:

    Truly free markets are never free. The more power and money that is
    available, the more it will tend to be found and held, and over time by
    fewer and fewer hands.

    The only free economy is one that the government forces to be free, and
    actively moderates to ensure it stays free.

  10. Ruben says:

    Always nice as a Dane to be labelled as living in a socialist state ;)

  11. DerEchteSenf says:

    It’s the female in the intro that reminds us DFTBA.

    That’s slightly sexist. Well not really but I think it’s an unconscious
    choice most would make.

  12. Stephen Sheehan says:

    I am from New Zealand. WTF, Who did your research????

  13. Robert Stroe says:

    Great lesson and also love that belt buckle prof.!!

  14. Wessel Stienstra says:

    You guys really do make a lot of good and insightful points but try so hard
    to be ‘fun’ and ‘cool’, which is totally not necessary. You’re an
    educational channel, if I wanna see silly videos I can always look at
    John’s puffy hair at vlogbrothers. Other than that, good stuff

  15. Inkswitch the Unicorn says:

    A video discussing free-markets vs planned economies? I’m sure the comment
    section is going to be full of positive, well-thought-out arguments and
    won’t in any way collapse into a mass of rabid pro-capitalist/communist
    buzz words & propaganda

  16. Rose Aboah says:


  17. Lowmomome says:

    A true capitalist society does not have public education and highways (not
    streets) are privatilly finance like in Mexico

  18. Lowmomome says:


  19. KnowledgePlaylists says:

    Economic Systems and Macroeconomics | CrashCourse #Economics #JacobClifford
    #AdrieneHill Thought Café |

  20. culwin says:

    AC/DC belt buckle