We always face choices. Resources and scarcity. Whats economics all about . With the help of economic analyst richard gill, well examine that question on economics usa. Im david schoumacher. Whats economics all about . There have always been theoretical answers to that question, but reality complicates the most elegant theories. Economics usa is about theory and reality in 20thcentury america, and how people and events have shaped economic decisions that affect our lives. Those decisions usually involve tradeoffs. In 1980, congress designated over 100 million acres of alaskan land as National Parks and wilderness areas. Why did Congress Make that decision . How much did it cost the nation . In 1867, when the United States purchased the territory of alaska from russia, the acquisition was derided as wasted money. A century later, after two gold rushes, alaska braced for another. The new gold was oil. Millions of barrels lay beneath the permafrost. During the 1970s, when the skyrocketing
Between the Federal Reserve and the treasury, over financing the war. How would it be resolved . 1965, Lyndon Johnsons administration was spending on both a war and a Great Society without raising taxes. The fed was left to fight the resulting inflation alone. The nations central bank, originally created to protect the Banking System against panics, acquired more power to affect the economy than even it imagined at the outset. The Federal Reserve does money matter . With the help of economic analyst richard gill, well explore that question on economics usa. Im david schoumacher. Coins, bills, checks our basic money supply. The amount of money and where it goes wiin the Banking System has been the main concern of our nations central bank. At the feds headquarters here in washington, dc, closed deliberations are held by experts who continuously monitor our Financial Health and prescribe remedies. How did these experts prescribe a remedy that plunged us even deeper into the Great Depressi
The politicians, in the end, have very great difficulty resisting. Economic efficiency what price, controls . With the help of economic analyst richard gill, well examine that question on economics usa. Im David Schoumacher. [loudspeaker] we got bargains over here we have bargains over here come on, girls. Dont be shy. Check it out. Come on. Pick em out. They all are cashmere. Everyone enjoys the ritual and the give and take in a market like this one. It is a demonstration in its purest form of the freemarket Pricing System. Consumers take the lead in this commercial dance, looking for the best deal. The merchants follow their lead, the joking not quite masking the intensity. How much are they willing to pay . Take less profit or lose the sale . Its an openair demonstration of economic efficiency. The Pricing System at this level is pretty much like the merchandise on display out in the open. The invisible hand is at work, determining what is produced, how much is produced, keeping sup
Why would so many pay so much for so little . During the holiday season, shoppers descend on this store en masse ready to buy if the price is fair. The producers of every item try to predict what the shoppers want and what theyll pay. Supply and demand what sets the price . Economic analyst richard gill and i will examine that on this edition of economics usa. Im david schoumacher. Rarely have americans had to worry about water. They take it for granted because its plentiful available, and cheap. But for what water does, there is no substitute. What would it take to show how much water is really worth . 1975 marked the beginning of one of californias worst droughts. Its a semiarid state with a gigantic agricultural industry, dependent on water from its snow pack and winter rains. But in the fall and winter of 1975 winter rains and snow did not come. Accustomed to dry spells californians showed little concern. But that winter wore on with no rain or snow and soon, what was great weather
The Asbury Park Press, explodednto e states this phemenagrowthossie . How d ee nousiness can guarane it will make a profit, t ere are stragies explodednto e states this phemenagrowthossie . How d ee thatanncrease chances the how can iteep costs down . With richardil welinstigate that pblemonhis e. Epsi cola 12 full ounces th id like to buy the worl a keep it com thats the real thing. We made our choice ake it pepsi. Softits a23 bilonayearinst. Spend millioin sales. Hoice wihamaalesevery cisions crucia oure the pei geneon wthe wos im about say cwill c cocaola s a new taste. Itsesever. In985,heie new stewas anutgethee toillions ofustomers what was tchange . Why d the compk in 1979,oke companyeaedmiio onalesofearly billio, but the giancooratiocecost pble. The ice of sugarasising. Do uicissi of misomeeoe wereayinga. Omutfor suga weado movethe price oft to retailers aonsumers. Do uicissi of misomeeoe wereayinga. Omutfor suga that pceap was of such significance weado movethe price oft atslit