Paul Krugman Teaches Economics and Society | Official Trailer | MasterClass

Paul Krugman Teaches Economics and Society | Official Trailer | MasterClass


[MUSIC PLAYING] We live in strange times. The housing bubble
burst– rise of China– and the rise of inequality. Health is a very big deal. Taxes are a front rank issue. Blue-collar jobs were lost. Two groups have
been left behind. But it’s a complicated story. Instead of saying, ah,
it’s a complicated world, I don’t get it, say, all right,
let me try to figure this out. Let me make sense of this. Doing economics
requires stepping back from all of the details to say,
what is the essential here? What is the story? It’s about people. It’s not about money. And it ends up being
about what people do. Really good economics has
a kind of beauty to it. And it comes down to
just two principles. Hundred-dollar bills don’t
lie on the street very long. The other is, every
sale is also a purchase. Things add up. What you’re going to
learn here in this class is how to think
like an economist. Health care in America
is an economic issue. Left to its own devices, private
health insurance actually just doesn’t work. The crisis of 2008 wasn’t as
bad as the Great Depression. And if you ask why, well,
because we learned something. It’s never been more
important to educate yourself. There isn’t an
establishment that knows what it’s
doing and is going to get us through all of this. It’s going to have
to come from you. There’s no guarantee
that good ideas prevail. But if you don’t try to
have those good ideas and get them out there, then,
of course, they won’t prevail. Keep on plugging, and don’t
let the crazies grind you down. I’m Paul Krugman, and
this is my MasterClass.