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The Maverick Radio Hour: “Basic Economic Thought Experiments: 100 People with 100 Dollars” [Episode 17]

Back on the horse, my friends!

In this episode, I lay the foundation for economic examinations using a simple thought experiment: 100 people with 100 dollars. This provides a basic structure (along with the hierarchy of needs) to analyze economic priorities, social psychology, tax policy, market effects, and so on. For those who are a bit new to economic theory, this is a good episode to start with.

“Peter pays Paul, Paul pays Mary, Mary pays Peter, and the whole cycle goes on in perpetuity…”

From thence, you can add any number of variables to increase the complexity of the system. Which ones do I look into here? There’s only one way to find out.

 

Welcome to the Maverick Radio Hour…

Recorded on Groundhog Day, February 2nd, 2022.

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