Acton Institute Powerblog

The big ideas of trade

Note: This is post #31 in a weekly video series on basic microeconomics.

Trade makes people better off, but how? In this video economist Tyler Cowen discuss the importance of specialization and division of knowledge, and how specialization leads to improvements in knowledge, which then lead to improvements in productivity.

(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: Price Controls and Communism

Joe Carter

Joe Carter is a Senior Editor at the Acton Institute. Joe also serves as an editor at the The Gospel Coalition, a communications specialist for the Ethics and Religious Liberty Commission of the Southern Baptist Convention, and as an adjunct professor of journalism at Patrick Henry College. He is the editor of the NIV Lifehacks Bible and co-author of How to Argue like Jesus: Learning Persuasion from History's Greatest Communicator (Crossway).