5-Minute Videos
Income Inequality is Good
Economics · Free Market · Free Trade · Captions
About This Video
What if everything you've heard about income inequality is wrong? What if it's actually a good thing for there to be people who are rich and people who aren't? John Tamny, editor of RealClearMarkets, clarifies one of the big misunderstandings of our time.
This video is part of the Robert W. Plaster Foundation Playlist: Free Enterprise Will Set You Free.
Standards Met in Ohio
- 9-12.EFL.10Grades 9th, 10th, 11th, 12thGovernment actions, such as tariffs, quotas, subsidies, trade agreements and membership in multinational economic organizations, significantly impact international trade.
- 9-12.EFL.11Grades 9th, 10th, 11th, 12thIncome is determined by many factors including individual skills and abilities, work ethic and market conditions.
- 9-12.EFL.4Grades 9th, 10th, 11th, 12thDifferent economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources.
- EFL.9-12.10Grades 9th, 10th, 11th, 12thGovernment actions, such as tariffs, quotas, subsidies, trade agreements, and membership in multinational economic organizations, significantly impact international trade.
- EFL.9-12.11Grades 9th, 10th, 11th, 12thIncome is determined by many factors, including individual skills and abilities, work ethic, and market conditions.
- EFL.9-12.4Grades 9th, 10th, 11th, 12thDifferent economic systems (e.g., traditional, market, command, mixed) use different methods to allocate limited resources.
- EFL.9-12.4.aGrades 9th, 10th, 11th, 12thCompare and contrast the different economic systems (e.g., traditional, market, command, mixed).
- EFL.9-12.4.bGrades 9th, 10th, 11th, 12thIdentify the different economic systems (e.g., traditional, market, command, mixed).
- EFL.9-12.4.cGrades 9th, 10th, 11th, 12thIdentify an economic system.
- EFL.9-12.4.lp.bGrades 9th, 10th, 11th, 12thUnderstand that a mixed market includes elements of a market system and command economic system.
- EFL.9-12.4.lp.dGrades 9th, 10th, 11th, 12thUnderstand that a market economic system uses individual choices of buyers and sellers to distribute resources through supply and demand.
- SS.7.20Grades 7thThe variability in the distribution of productive resources in the various regions of the world contributed to specialization, trade, and economic interdependence.