EPISODE · Jun 12, 2007

2. Exchange and Demand

from Fundamentals of Economic Analysis: A Causal-Realist Approach · host Joseph T. Salerno

All action is really exchange. What the actor prefers less is exchanged for something he prefers more, including gift giving. It is a fallacy to say that the goods exchanged have equal value. Salerno also covers elastic and inelastic demand. The second in a series of ten lectures, from Fundamentals of Economic Analysis: A Causal-Realist Approach. Download the MP4 video.

Episode metadata supplied by the publisher feed · Published Jun 12, 2007

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All action is really exchange. What the actor prefers less is exchanged for something he prefers more, including gift giving. It is a fallacy to say that the goods exchanged have equal value.

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