Economic games. So what we do is we go into two areas.

Make a decision and give me some blood.

Microeconomics .. and those actors could be firms, could be people, it could be households.

And macro economics is probably more guilty of it.

Econometrics package

Von Mises, interestingly, believes economics is just a subset of psychology.

The topics range from math

a latticework on which to hang your ideas.

Economics is the study of economic mechanisms.

Technology is a great equalizer. How do we make it work?

The bottom of the pyramid is benefiting hugely from technology.

What about religion, poverty, economics...?

He studied economics at college.

We can see that we can take this equation and it can apply to things in economics, or it can apply to things in finance or it can apply to things in computer science or logic or electrical engineering or anything accounting

COuld lead to more wealth, more, a larger pie for everyone.

We have this view of ourselves, of others.

But this does not apply the other way around.

Westerners own two thirds of its wealth.

Here's another one.

My employer an economist.

Here's a guy you all need to study.

Often, our theories fail quite miserably when we over the data, but what's kind of interesting is that in this setting, it turned out that some of the economic theories that worked not so well in the real economy worked very well in the drug economy, in some sense, because it's unfettered capitalism.

So this is exactly what I did.

He is a great authority on economics.

He is a great authority on economics.

Instead, what we saw is a lot of people who cheat a little bit.

Regardless of the outcome, the pure act of anticipation makes us happy.

And they see a 20 bill.

And we call that M1.

Great.

We've had science proving the urgency of change.

Many economists are ignorant of that fact.

And notice, the money supply at least as we defined it with this M1

Higher incentives led to worst performance. What's interesting about this is that it actually isn't that anomalous, this has been replicated over and over and over again by psychologist, by sociologist, and by economists, over and over and over again.

The laws of nature are written in the language of calculus.

What I would like to see is idealism decoupled from all constraints.

Well there's a couple of ways to do it.

I major in economics.

I'm majoring in economics.

Not with the market the way it is, no.

It's a proven fact.

He is a professor of economics at Hyogo University.

Tom is majoring in economics.

They really cared about their monkey token dollar.

And now you want me to give up this money and ship it to a stranger?