• 00:00    |    
    Initial credits
  • 00:06    |    
    What drives the economy?
    • Consumer spending
    • Government spending
    • Business investment
    • Relationship between business investment and consumer spending
    • Volatility
    • Elements of business spending
    • Gross Domestic Product (GDP) Statistics
  • 10:56    |    
    Universal model of economy and its stages
  • 11:28    |    
    Finished goods and services
  • 13:39    |    
    Spending and the economy
  • 15:56    |    
    Gross Domestic Product (GDP) and Gross Domestic Economy (GDE) model
  • 16:58    |    
    Example of Seattle's welfare
    • How innovation drives consumption
    • Importance of the business sector
  • 22:02    |    
    Key to success
    • Industry
    • Thrift
    • Prudent
  • 25:24    |    
  • 26:05    |    
    New way to look at the economy
  • 27:02    |    
    Question and comments section
    • How lowering taxes and regulations can encourage business?
    • What are the major setbacks for investment in the business sector?
    • What is your opinion about a successful life?
    • What is the ideal percentage that the government spend on the Gross Domestic Product (GDP)?
  • 45:26    |    
    Activity "Who wants this fifty dollar bill?"
  • 47:24    |    
    Final credits

What Drives the Economy? Consumer Spending or Business Investment

New Media  | 26 de marzo de 2015  | Vistas: 205

What drives the economy? This is the question that Mark Skousen answers in his lecture by evaluating three economic agents: consumer spending, government spending and business investment. He shares some economic models that can help better understand the economy. He also uses the example of Seattle to illustrate the importance of innovation and the business sector in creating welfare. Based on his ideas, Skousen shares the key to success in life. He invites the audience to look at the economy in a new way. He ends his talk with a interesting activity, teaching that there is a lot of money out there, but we have to go out and get it, we can´t wait for it to come to us.


Mark Skousen is an economist, who has taught economics and finance…