So, the new video explaining economics.
If economics is about the allocation of scarce resources then we have t know what is scarce. And my point is a simple one. Economics has treated money and financial capital as scarce. But it isn’t the real constraint in the economy. The planet is the real scarce resource – and so are we.
Economics has asked the wrong questions I hope to ask better ones.
Economics does not assume that money is scarce. It assumes that the things that can be deployed by the use of money are scarce. Therefore money is not the real constraint, real resources are.
Among which we include the planet. At least, those parts of it which are scarce – say, refined metals, or even economic ore bodies. Which is why they have a price.
So his explanations of economics are starting off with a straw man. Which doesn’t bode well for the future of the series.