Division of Labor: Burgers and Ships

Transcript

♪ [music] ♪ - [Don] The benefits of voluntary trade are obvious. Suppose this guy has bananas and this guy has oranges. He needs oranges for marmalade and this guy needs bananas for banana bread. They swap -- they exchange. Each guy is made better off through trade. In our last video, though, we saw that a key fact about the modern world involves m... Read More