Economics is the study of human behavior, whenever people make choices. It can be about money and business, but it's also about so much more!

To help you make sense of this complex subject, our host Kevin Lieber (VSauce2) and his friends Fiona & Professor Fergberg outline 6 fundamental concepts: Individual Action, Scarcity, Choice, Trade-offs, Subjective Value, and Incentives.

Once you learn about these core ideas, understanding how economies function and why they sometimes don't gets a lot easier.

LINKS:
https://fee.org/articles/economics-helps-you-deal-with-difficult-people/

Broken Window Fallacy
https://www.youtube.com/watch?v=erJEa...
Subjective Value
https://www.youtube.com/watch?v=AYuHU...
Thinking at the margin
http://www.youtube.com/watch?v=tMhdTn...
Opportunity Cost
http://www.youtube.com/watch?v=tMhdTn...
Incentives Matter
http://www.youtube.com/watch?v=ML3Ai7...
The power of incentives
http://www.antolin-davies.com/global/...
Unintended Consequences
https://www.nytimes.com/2016/06/26/bu...
http://www.aei.org/publication/whod-a...
https://www.wired.com/2014/06/wuwt-tr...
Economic Facts and Fallacies
http://www.youtube.com/watch?v=n0MaY3...