The price of everything and the value of nothing


Economics is Fun Series – Part 1 – Value

This is the first in a series of short videos on the basic concepts of Economics, produced by the Adam Smith Institute and featuring the eccentric but rather brilliant Dr. Madsen Pirie. I’ll be posting more quick videos from this excellent series over the coming weeks.

First up, why objects have no value and what Marx got wrong about labour.

For those of you who are interested in finding our more about Madsen Pirie, I’d suggest his Economics Made Simple followed by the (more fun) and provocative How To Win Every Argument.