5-Minute Videos
As the Rich Get Richer, the Poor Get Richer
Economics · Capitalism · Money · Captions
About This Video
The rich are getting richer, and the poor are... also getting richer. What's driving this wealth creation process? In this video, Daniel Hannan explains why it is capitalism — and capitalism alone — that has led to the unprecedented enrichment that is the central fact of Western life.
This video is part of the Robert W. Plaster Foundation Playlist: Free Enterprise Will Set You Free.
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Standards Met in Ohio
- 6.E.14Grades 6thWhen regions and/or countries specialize, global trade occurs.
- 9-12.WG.19Grades 9th, 10th, 11th, 12thGlobal trade and communication systems reduce the effect of time on the distribution of goods, services, and information (e.g., reliance on local foods versus global trade in perishable foods, online brokering versus personal brokers, Internet access versus library access).
- SS.6.14Grades 6thWhen regions and/ or countries specialize, global trade occurs.
- WG.9-12.18.lp.aGrades 9th, 10th, 11th, 12thUnderstand that there are economic risks and benefits for countries participating in global trade because they become interdependent.
- WG.9-12.19Grades 9th, 10th, 11th, 12thGlobal trade and communication systems reduce the effect of time on the distribution of goods, Services, and information (e.g., sustainability of perishable foods, online brokering versus personal brokers, Internet access versus library access).
- WG.9-12.19.bGrades 9th, 10th, 11th, 12thIdentify the effect of a given cause of global trade that reduces the effect of time on distribution of goods, services and information.
- WG.9-12.19.cGrades 9th, 10th, 11th, 12thSequence global trade and communication systems that reduce the effect of time on the distribution of goods, services and information.
- WG.9-12.19.lp.aGrades 9th, 10th, 11th, 12thDiscuss how global trade has improved consumer access to international products.
- WG.9-12.19.lp.cGrades 9th, 10th, 11th, 12thDefine global trade as the exchange of goods and services between countries marked by specialization and interdependence.