Economics on One Foot

Art Carden

Art Carden is Associate Professor of Economics at Samford University’s Brock School of Business and a Senior Fellow with the American Institute for Economic Research. He is also a Research Fellow with the Independent Institute, a Senior Fellow with the Beacon Center of Tennessee, and a Senior Research Fellow with the Institute for Faith, Work, and Economics. His main areas of research are southern economic history, the history and philosophy of economic ideas, and the effects of “Big Box” retailers like Walmart and Costco. He is a regular contributor to Forbes​.com and a number of other outlets.

How quickly could you sum up the principles of economics? While standing on one foot, Prof. Art Carden discusses the following economic principles in just over two minutes:

● Individuals strive to achieve their goals in the best ways possible.
● Every action has a cost.
● Incentives matter.
● Value is determined on the margin.
● Profits and losses help gauge value creation and destruction.
● Government interventions often have unintended and undesirable consequences.

For more, visit Learn​Lib​er​ty​.org.