May 21, 2014

Easy-understand Economics

This is an awesome explanation about the economy system of our world.


This half an hour might be better than just sitting in an Econ class for a semester. I should have known this video earlier...

I agree with the idea at the end of this video that increasing productivity is very important for economic growth. It would cost a lot of money and time to make this whole video. Ray Dalio, the producer of this video, is very rich because he succeeded in managing his hedge fund as a founder. If many people are influenced by this video and the world economy improve, his funds would get better. So it is also good for him.

What if 3 billion people (approximate labor population) in the world understand this basic economic system?
Statistically, the number of people who can connect the Internet is approximately 3 billion as well. (The number of device that can connect the Internet will reach 6 billion in 2014)

On the other hand, the Internet penetration rate(available population)of many countries are still less than 10%. Only about 20 countries have over 50% of the Internet penetration rate.
Even though a good educating contents was published for free, there is still the education gap as well as economy gap in the world.

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