Thursday, July 16, 2015

Specialization and Trade: Crash Course Economics #2

A new series on economics that everyone can learn from. This one on specialization. My thoughts on specialization is although it is necessary economically on the global scale, many times it doesn't do well on the individual level. Like when you are retired or without a job and realized that you are paying a lot of money to outsource all those things you can't do, like cooking or basic household maintenance. Just learning some basic skills that just one or two generations earlier people are doing on their own without having to pay for others is already enough to make one feel empowered and save lots of money in the process.
Source:
Specialization and Trade: Crash Course Economics #2
https://www.youtube.com/watch?v=NI9TLDIPVcs
In which Adriene Hill and Jacob Clifford teach you about specialization and trade, and how countries decide whether they're going to make stuff or trade for ...

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