A brief background of NAFTA and the problems of exiting NAFTA. A good discussion within the video covers the parties that gain and the parties that loses from NAFTA. A good note in the video is that the jobs that are lost are different from the jobs that were gained.
It’s not often that you can learn about the Laffer Curve from Art Laffer himself. While relatively controversial, Art Laffer popularized, but did not create, the notion that tax revenues could increase by lowering taxes. In this clip, he does a good job distinguishing between the two sections of the curve and focusing on the pedagogical side of the curve.
This is a series of clips from the show Law and Order where the detectives uncover a doctor operating a black market kidney ring. The detectives debate throughout the episode of whether kidneys sales should be prohibited and if there is an efficient way to allocate kidneys in the market.
This comedy series shows a series of examples of associated with price ceilings for apartments in New York City. It shows not only the predictably inefficiently low quality of these apartments, but also the wasted resources that are involved when there is a shortage of apartments.
Watch Nixon address the nation during a period of high inflation. Nixon’s decision to implement price freezes across the United States sounds like a great policy, but the inefficiency of price manipulation typically outweighs the benefits that some consumers receive. Here’s a nice summary from the Cato Institute.
John Stossel explores New York City’s decision to implement rent control throughout the city. He covers many of the predictable outcomes associated with inefficient policy controls. Ask students to identify issues as he progresses through the video. While the references are a bit dated, there aren’t many videos that hit the outcomes as closely as this one does.
Many have seen Jimmy McMillan as a meme, but so few have gotten to see him in the NYC debates. McMillan argues that rent in New York City is too high and should be regulated by the government. This is a good clip to use before a discussion on price ceilings and the normative argument of prices being ‘too high’.
Bloomberg corresponds provide some background on the taxi medallion industry and shows an interesting perspective before the big surge of Uber in the city. The original article can be found here.
In this Stossel in the Classroom segment, John Stossel analyzes political promises and looks at how government intervention actually can harm business. A good portion of the video focuses on how the invisible hand dictates much of what we see occurring in our lives and how centrally planned economies like the Soviet Union break down.
John Stossel analyzes the impact of farm subsidies. While the intentions are good, the results of these subsidies have predictable impacts.