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Tyler Cowen's Idea #1: Demand Slopes Down

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    - [Tyler] Now Socrates --
    I actually disagree with him --
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    he said the only true wisdom
    is in knowing that you know nothing.
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    So I'm an economist.
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    I'm not a philosopher.
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    So what does the economist say?
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    The economist does not say
    that he or she knows nothing.
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    The economist says
    "I know one thing --
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    maybe it's only one thing,
    but it's one thing."
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    And that one thing is
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    that the demand curve
    slopes downward.
Title:
Tyler Cowen's Idea #1: Demand Slopes Down
Description:

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Video Language:
English
Team:
Marginal Revolution University
Project:
Tyler’s 9 Big Ideas of Economics
Duration:
04:23

English subtitles

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