12. Economics

Access to money and other scarce resources will remain critical for the accomplishment of many important tasks. A good understanding of economics – past, present, and future – is essential in order to avoid major mistakes with the management of resources.

Resources providing an overall introduction to economics:

“How the Economic Machine Works” by Ray Dalio
  • (More pending)

12.1 The positive accomplishments of free markets

Animated version of Leonard E. Read’s essay “I, Pencil”, by EconClips

12.2 The failure modes of free markets

“Market Failures, Taxes, and Subsidies”: Jacob Clifford and Adriene Hill for Crash Course Economics
“Market Failures: Externalities” by Jonathan Gruber for MIT
Cartels and planned obsolescence, by Derek Muller for Veritasium

12.3 The tragedy of the commons

“The Tragedy of the Commons: How to Avoid it” by EconClips

12.4 The mixed model

12.5 The role of business

12.6 The roles of money and banking

“Banking Explained – Money and Credit” by Kurzgesagt

12.7 Cryptocurrencies

Positive assessments of cryptocurrencies:

“What is Bitcoin? Bitcoin explained simply” by 99Bitcoins

Sceptical assessments of cryptocurrencies:

“Why Bitcoin is a Scam” by Doug Henwood for the Gravel Institute

12.8 Tokenomics

“What is Tokenomics” by Amarpreet Singh

12.9 Protecting property

12.10 Crime and punishment

12.11 The circular economy

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