A Four-Minute History of Economics
The author of A Beautiful Mind and Grand Pursuit – The Story of Economic Genius, Sylvia Nasar, is the narrator of this great video. This is not the same video as the Economic History of the World in 4 Minutes, another great video.
Many things struck me in this narration. However, one fact struck me in particular as it illustrates that today’s economic challenges are no different than those of yesterday. It was “Carnegie Steel triples its output without increasing its workforce thanks to superior management and its “brain” workers”. Who knew that “brain” workers were already in vogue then? And when did this happen? Find out by watching the following video obtained through Greg Mankiw’s blog:
Images: Flickr (licence attribution)
About The Author – Luc Vallée
Currently President of The Independent Market Observer. Chief Economist and Vice-President at the Caisse de dépôt from 2001 to 2008. Chief Financial Officer and Vice-President, Corporate Strategy for Mediagrif Interactive Technologies from 1999 to 2001 – MDF.TO. Deputy Treasurer at Canadian National Railways, 1997-1999. Associate Professor of Applied Economics at l’École des Hautes Études Commerciales (HEC) in Montréal, 1989-96. Consultant for the World Bank, the Canadian government, the Quebec government and the City of Montreal. Deputy director of the Center for International Studies, 1993-1996. Adviser to the investment banking division of Société Générale in Canada, 1996. President of ASDEQ in 2005-06. Member of the National Statistics Council of Statistics Canada, 2008-now. Ph.D. (1989) in economics from the Massachusetts Institute of Technology.