==========< There is the owner and the employee.>========== Ultimately, the 'Employee' makes the products, takes those products to the market, sells the same products, he made, to himself and finally he pays a fee known as Profit to some 'Owner' for a permission to own the same products he made and sold to himself. The owner gets to collect profit for doing nothing.....and many call that 'earning' instead of 'taking'. The way forward to a better society is to increase and maintain a strong minimum purchasing power of the end-consumer using the magic formula. (Magic Formula: 'Your minimum Purchasing Power' = 'minimum wage' + 'Benefits payments' - 'Cost of dignified living from cradle to grave' - 'Taxes, fees, penalties') Firms are no more "legal entities" than your back-up power generator is a "legal entity", and it does not matter if it runs on fossil fuels or if a bunch of humans must run on treadmills all day. Firms are just property and should be treated as such by the laws. Save the minimum purchasing power of the human citizens instead of saving businesses/firms.
@@reasonerenlightened2456 You think businesses, society, or the government should pay everyone’s taxes…? If that somehow worked it really be the ‘magic’ formula
@@SebastianJimenezOwO If we aggregate all humans into one individual then he/she/it would be an Employee for a business, and an owner of the same business and government and a voted for that same government all at the same time. Then, what happens depends on the minimum purchasing power of that aggregated individual i.e. stuff can be built, rules can be set to follow, etc. but ultimately the minimum purchasing power must exist first before anything can happen (like having oxygen and nutrients in the blood stream before any movement or thought could exist.)
==========< There is the owner and the employee.>========== Ultimately, the 'Employee' makes the products, takes those products to the market, sells the same products, he made, to himself and finally he pays a fee known as Profit to some 'Owner' for a permission to own the same products he made and sold to himself. The owner gets to collect profit for doing nothing.....and many call that 'earning' instead of 'taking'. The way forward to a better society is to increase and maintain a strong minimum purchasing power of the end-consumer using the magic formula. (Magic Formula: 'Your minimum Purchasing Power' = 'minimum wage' + 'Benefits payments' - 'Cost of dignified living from cradle to grave' - 'Taxes, fees, penalties') Firms are no more "legal entities" than your back-up power generator is a "legal entity", and it does not matter if it runs on fossil fuels or if a bunch of humans must run on treadmills all day. Firms are just property and should be treated as such by the laws. Save the minimum purchasing power of the human citizens instead of saving businesses/firms.
Everyone in the comments says: WOw! You saved me for my final tomorrow! I dont have finals... I'm in grade 8... Why did my teacher make me watch this...
thanks a lot..this video had helped me understand clearly the market flow......... God bless u sir. i think i'm ready to report this assignment to our class on monday.. thanks again.
Great presentation. We all live this everyday so its nice to see it simplified in such a way. Of course, there are a lot of variables but that would be a very long video. lol
I liked your video. Till the end. I don't think i happiness equates consumption. I believe that through savings a person can seek to maximize his monetary as a end of itself. The goal being a rise in social status or a preparation for children etc.
Entrepreneurship (that earn profit) should also be regarded as a vital resource (factor of production) in the process. Without entrepreneurship nothing will happen.
Great Video. Small point, you mis-spoke at 9:12 when you said money flows counter-clockwise and goods & services flow clockwise. It's the other way round.
@Jason Welker I have a question sir, What if the entrepreneur owns its own land? Would it be possible that the entrepreneur will only acquire Human Resources and Capital from the Households? BTW, this is a good video. :)
I'm a little confused, what you explained in the diagram and all, money is flowing clockwise while goods and services flows counterclock wise so why did you say the opposite of it??
==========< There is the owner and the employee.>========== Ultimately, the 'Employee' makes the products, takes those products to the market, sells the same products, he made, to himself and finally he pays a fee known as Profit to some 'Owner' for a permission to own the same products he made and sold to himself. The owner gets to collect profit for doing nothing.....and many call that 'earning' instead of 'taking'. The way forward to a better society is to increase and maintain a strong minimum purchasing power of the end-consumer using the magic formula. (Magic Formula: 'Your minimum Purchasing Power' = 'minimum wage' + 'Benefits payments' - 'Cost of dignified living from cradle to grave' - 'Taxes, fees, penalties') Firms are no more "legal entities" than your back-up power generator is a "legal entity", and it does not matter if it runs on fossil fuels or if a bunch of humans must run on treadmills all day. Firms are just property and should be treated as such by the laws. Save the minimum purchasing power of the human citizens instead of saving businesses/firms.
wish all teachers could xplain like this, indeed teaching is a Art..
==========< There is the owner and the employee.>==========
Ultimately, the 'Employee' makes the products, takes those products to the market, sells the same products, he made, to himself and finally he pays a fee known as Profit to some 'Owner' for a permission to own the same products he made and sold to himself.
The owner gets to collect profit for doing nothing.....and many call that 'earning' instead of 'taking'.
The way forward to a better society is to increase and maintain a strong minimum purchasing power of the end-consumer using the magic formula.
(Magic Formula: 'Your minimum Purchasing Power' = 'minimum wage' + 'Benefits payments' - 'Cost of dignified living from cradle to grave' - 'Taxes, fees, penalties')
Firms are no more "legal entities" than your back-up power generator is a "legal entity", and it does not matter if it runs on fossil fuels or if a bunch of humans must run on treadmills all day. Firms are just property and should be treated as such by the laws.
Save the minimum purchasing power of the human citizens instead of saving businesses/firms.
@@reasonerenlightened2456 You think businesses, society, or the government should pay everyone’s taxes…? If that somehow worked it really be the ‘magic’ formula
@@SebastianJimenezOwO
If we aggregate all humans into one individual then he/she/it would be an Employee for a business, and an owner of the same business and government and a voted for that same government all at the same time.
Then, what happens depends on the minimum purchasing power of that aggregated individual i.e. stuff can be built, rules can be set to follow, etc. but ultimately the minimum purchasing power must exist first before anything can happen (like having oxygen and nutrients in the blood stream before any movement or thought could exist.)
@@reasonerenlightened2456 2
9:21 Money is flowing clockwise.
Goods & Services Counterclockwise
Thanks! You teach better than my professor.
==========< There is the owner and the employee.>==========
Ultimately, the 'Employee' makes the products, takes those products to the market, sells the same products, he made, to himself and finally he pays a fee known as Profit to some 'Owner' for a permission to own the same products he made and sold to himself.
The owner gets to collect profit for doing nothing.....and many call that 'earning' instead of 'taking'.
The way forward to a better society is to increase and maintain a strong minimum purchasing power of the end-consumer using the magic formula.
(Magic Formula: 'Your minimum Purchasing Power' = 'minimum wage' + 'Benefits payments' - 'Cost of dignified living from cradle to grave' - 'Taxes, fees, penalties')
Firms are no more "legal entities" than your back-up power generator is a "legal entity", and it does not matter if it runs on fossil fuels or if a bunch of humans must run on treadmills all day. Firms are just property and should be treated as such by the laws.
Save the minimum purchasing power of the human citizens instead of saving businesses/firms.
Same here
Sir, you are a gentleman and a scholar!! Thank you for simplifying the concept of Circular Flow.
Jason.. From the bottom of my heart, thank you!!! With watery eyes
I went a whole semester trying to understand this just to understand it from watching 10 min of a UA-cam video. Thanks
Explained clearly and in a simple way how the Circular Flow Model works. Thanks, Jason!
for a person like me that does distance learning your lecture came in very handy. many thanks...
Your videos are also being linked as supplemental material in classes from the University of Alaska. Thanks for making such great videos!
In this one lesson I have learned more than in four years at the University.
Thank you! I am not an economist but your lecture helps me a lot in my teaching.
Thank you so much! I tried to understand it by my self and struggled so much! This is straight forward! Thanks Jason!
Finally SUBSCRIBED!!! You good at Economics man🔥🔥🔥🔥🔥
studying for a macroeconomics test, thank you! please make more!
THANK YOU YOU SAVED ME FOR MY FINAL TOMORROW!!!!
Much better explanation than my text. Thanks!
Everyone in the comments says: WOw! You saved me for my final tomorrow! I dont have finals... I'm in grade 8... Why did my teacher make me watch this...
broo same
🤣
Exact same here
Because adults still don't know this info lol
😂 😂 😂 😂
THANK YOU AND I REALLY APPRECIATE YOUR EFFORT, IT WAS A LITTLE COMPLICATED FOR ME BUT YOU MADE IT LOOK SO SIMPLE AND EASY.
love the song at the beginning
Thanks for explaining it in simple words. Appreciated.Concept is so beautiful
Thank you so much for this video, you teach way better than my lecturer.
Towards the the end the flows (clockwise and anti-clockwise are mixed up).
Thanks I was wondering
thanks a lot..this video had helped me understand clearly the market flow.........
God bless u sir.
i think i'm ready to report this assignment to our class on monday..
thanks again.
Best video on the circular flow that I have seen.
Great video, thanks for putting this together. Really clearly explained and illustrated.
This was so helpful and I understood better thank you Mr Welker
this is an awesome explanation of circular flow of income model
This is really helpful. Thank you for an insightful discussion of the topic!
Great presentation. We all live this everyday so its nice to see it simplified in such a way. Of course, there are a lot of variables but that would be a very long video. lol
thank you so much! your video was the only way I understood this topic!
I love it when I randomly click a video on economics and see someone with an an-cap flag used as their avatar. A much welcomed sign of the times.
this is a video from 2012 but man you nailed it , thanks alot.
Awesome as always Jason!!!
Thanks so much Jason. This was very useful
Thanks so much for this video I'm about to write a test and this gave me clarity❤
That was a sure fire way to break Down the flow of money
Very helpful 🙏❣️
This helped me a lot, you explain so well
I know this is an old vid but this helps me out a lot. thanks!
I hope that my professor would be as wonderful as he is
money really does make the world go round
Thanks you for posting! This helped me so much.
awesome lesson, i understand it more clearly now, much appreciated Sir
It helped alot❤️❤️
Omgeeee thank you soo much , you have cleared the clutter in my brain
Yes. My question is what are the goods and services that are being bought and sold.
this an awesome explaination of circula flow of income model
great video
wow..amazing..now i understand it clearly👏..thank you
truly helped me in my report.. thank you so much
I liked your video. Till the end. I don't think i happiness equates consumption. I believe that through savings a person can seek to maximize his monetary as a end of itself. The goal being a rise in social status or a preparation for children etc.
Exactly. Separation of free market and state.
Thankyou! u r much better than my Prof!
Thank you so much for explaining.
Sorry about asking a stupid question, thank you for explaining it to me.
Entrepreneurship (that earn profit) should also be regarded as a vital resource (factor of production) in the process. Without entrepreneurship nothing will happen.
What song is that in the beginning?
Ive got a Final test 4 days from now Thanks I saved Meh!
Great Video. Small point, you mis-spoke at 9:12 when you said money flows counter-clockwise and goods & services flow clockwise. It's the other way round.
THIS HELPED ME SO MUCH THANK YOU!!!
great video, i understand stand this concept so much better
Interesting opinions!
THANK YOU SO MUCH FOR SAVING ME
Definition of a market can be expanded to include that it is a process by which prices are established - not just a place.
Thank you for making this video.
So money CAN buy happiness
nope..., Consumption leads to happiness, only according to economics..
their is no money without work, and their is no work without health
Consumption of what you need, desire and demand leads to happiness
It can, but not forever. -> hints to the principle of diminishing marginal utility.
thanks i got a midterm tomorrow :)
Thanks for that!
Student from Dawson College!
Well so I simply could of just skipped all my online classes and just watched this video and got an A plus lol like if you agree
Ohh thank u soo much for teaching in such a nyc way ( will really helps a alot in midterm few days far )
Thank you so much. Now I understand.
you just said it soo damn easily thank you very much
@Jason Welker I have a question sir, What if the entrepreneur owns its own land? Would it be possible that the entrepreneur will only acquire Human Resources and Capital from the Households?
BTW, this is a good video. :)
Thanks ! It helps me open my mind
You shoulg get that checked out
clearly explained, ty
Thankyou so much!! makes so much sense to me!
I wish I had a prof like you
Do you have any sources you can refer to?
I'm a little confused, what you explained in the diagram and all, money is flowing clockwise while goods and services flows counterclock wise so why did you say the opposite of it??
My text book video made this so much more complicated than need be
Do u have a 1 explaining philips curve
Excellent job
Great video thank you!
Great video.
Thank you so much you Saint
Great content!
Very Helpful
Thanks A lot.🤙🏻
Please give me ideas to convert this concept in working model
Enjoyed the video! Hope it helps destroy that catch-phrase "trickle-down economics."
THank you, very helpful explanation
==========< There is the owner and the employee.>==========
Ultimately, the 'Employee' makes the products, takes those products to the market, sells the same products, he made, to himself and finally he pays a fee known as Profit to some 'Owner' for a permission to own the same products he made and sold to himself.
The owner gets to collect profit for doing nothing.....and many call that 'earning' instead of 'taking'.
The way forward to a better society is to increase and maintain a strong minimum purchasing power of the end-consumer using the magic formula.
(Magic Formula: 'Your minimum Purchasing Power' = 'minimum wage' + 'Benefits payments' - 'Cost of dignified living from cradle to grave' - 'Taxes, fees, penalties')
Firms are no more "legal entities" than your back-up power generator is a "legal entity", and it does not matter if it runs on fossil fuels or if a bunch of humans must run on treadmills all day. Firms are just property and should be treated as such by the laws.
Save the minimum purchasing power of the human citizens instead of saving businesses/firms.
Money is flowing clockwise and resources and Goods are flowing anti-clockwise
Thank you so much, that was helpful
amazing video im seeling feet pics for an spare bag in gpo
I like how he just copy-pasted the money at 5:06, if only I could do that LOL
Very good video
this is very helpful but in my book there is another "factor?" the taxes and foreign sector
thank you very much.............
thx , best explanation..!
I wish u explain CFA material.
Pleeeeeeeeeeaaaaaaassse.
🙏🙏🙏🙏
Thank you Sir.