Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income
- Title:
- Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income
- Description:
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The ninth big idea of economics is that one person’s expenditure is another person’s income. It’s a simple idea, but crucial to macroeconomics.
If I spend $1 at a store, the store receives $1 in income. The same is true in the aggregate: the sum of national expense is equal to the sum of national income. In this video, Tyler explains why this must be and touches on how it impacts the role of the Fed in the national economy.
That concludes this series, Tyler’s 9 Big Ideas of Economics!
Cowen delivered this talk at the 2018 AP Economics Conference co-hosted by MRU & the St. Louis Fed. If you’re a high school teacher who wants to attend this conference next year, register here: https://bit.ly/2DozLzv
Or join MRU at a future economics teaching event! Visit this page for more information: https://bit.ly/2AQIWq5
- Video Language:
- English
- Team:
Marginal Revolution University
- Project:
- Tyler’s 9 Big Ideas of Economics
- Duration:
- 02:27
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Assar edited Arabic subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Assar edited Arabic subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Marco Orellana edited Japanese subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Michel Smits edited Dutch subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Michel Smits edited Dutch subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Michel Smits edited Dutch subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Michel Smits edited French subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income | |
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Michel Smits edited French subtitles for Tyler Cowen's Idea #9: One Person's Expenditure Is Another's Income |