Note: This is post #12 in a weekly video series on basic microeconomics.
Why do taxes exist? What are their effects? In this video by Marginal Revolution University, economist Alex Tabarrok explains how taxes affect consumer surplus and producer surplus. He also discusses the concept of deadweight by considering a real-world example from the 1990s: taxing luxury yachts.
(If you find the pace of the videos too slow, I’d recommend watching them at 1.5 to 2 times the speed. You can adjust the speed at which the video plays by clicking on “Settings” (the gear symbol) and changing “Speed” from normal to 1.25, 1.5 or 2.)
Previous in series: Who pays the tax?
Own all 96 of the lectures from Acton University 2015 on a USB flash drive with this inexpensive bundle. Valued at $191, these lectures were recorded live at Acton University 2015 sessions. The drive itself comes with lectures numbered, including the lecturer and course title in the file name. Includes
Plenary Lectures from:
Dr. Samuel Gregg, Director of Research Acton Institute and author of Becoming Europe
Rev. Robert Sirico, co-founder of the Acton Institute and author of Defending the Free Market
Dr. Gregory Thornbury, President of the King's College
Joel Salatin, Entrepreneur and Alternative Farmer
Includes lectures from the following popular speakers:
Charlie Self, author of Flourishing Churches and Communities: A Pentecostal Primer on Faith, Work, and Economics for Spirit-Empowered Discipleship
Michael Butler, author of Creation and the Heart of Man: An Orthodox Perspective on Environmentalism
Vincent Bacote, Director of the Center for Applied Christian Ethics at Wheaton College
Anthony Bradley, author of Keep Your Head Up and Liberating Black Theology
Visit the official Acton University website for information on attending in person!