VIDEO: Unemployment, Explained
Added 2023-02-27 13:02:22 +0000 UTCApparently I do macro economics explainers every couple of months. One of our story producers just finished his thesis in economics and has been an amazing resource for helping me refresh my econ fundamentals from the old university days. I hope you enjoy the video and let me know what econ topic you’d like to see us tackle next.
- Johnny
Comments
Loving the economics videos. Have gained such a better understanding of the system and how it works. How is the employment rate measured in the states? Is there a minimum requirement for hours worked in order to be considered employed or is someone who works as little as one hour a week deemed employed and therefore not entitled to any government benefits?
Liv Amanita
2023-02-28 22:47:24 +0000 UTCA company spends money to make people buy their product. We call it "CAC" (Customer Acquisition Cost). Imagine it costs the company $ 1 to give a loyalty card and each card makes sales increase by $ 2. Now, imagine that for each $ 1 that it spends in ads to convince new customers to buy its products the company makes only $ 1,5. In this case, it's worth to spend the money giving loyalty cards.
LSP
2023-02-28 15:48:59 +0000 UTCHey Johnny, congrats for the video. You should make a video explaining the origins of private property. It's different from what everyone think it was. Here are two great books about it: 1- The Prehistory of Private Property, by Karl Widerquist and Grant S. McCall 2- Property and Freedom, by Richard Pipes You would also like A Splendid Exchange, by William Bernstein and Money Changes Everything, by Williamn Goetzmann. They're not focused on the topic itself, but cover a lot of things related to it.
LSP
2023-02-28 15:39:00 +0000 UTCGreat one !!
Yeochoua Fitoussi
2023-02-28 11:43:54 +0000 UTCHow long does a person remain on the unemployment rolls before no longer being counted?
Walt Dennig
2023-02-27 20:58:34 +0000 UTCAnother banger video as always
MrC402
2023-02-27 20:20:48 +0000 UTCGood episode! But you missed a very important problem in the modern economy. You said Prices act like a signal, and Wages are Prices for human labor. But Wages are rarely disclosed. They can't act as a signal to the economy if it's never disclosed in a job posting, or if it's taboo to talk about how much we make. This obfuscation is a big problem to the so-called self-regulation of the market. How can companies claim to have competitive wages if no one knows what are the wages?
Abel Laflamme
2023-02-27 17:39:30 +0000 UTCJust watched the episode. Big thanks to you and your team for creating such explainers. Not only it looks good and helps to understand complex topics like unemployment, but it also made me feel a little bit more confident when it comes to job seeking. I mean when you kinda understand how the sistem works (or does not work) you can expext and predict things, not just wondering why it's hard to find a decend job. 3 years ago I had to move from Grece to Cyprus to get a better job offers but now I feel it also happening in Cyprus so iI guess it's a global tendency.
Harris Ananiadis
2023-02-27 15:57:22 +0000 UTCI am in the middle of watching this, and I had a question, what are the economics of loyalty cards? I saw a number of loyalty prices on products.
Randy Philipp
2023-02-27 15:18:03 +0000 UTCNice
Ty Izzy
2023-02-27 13:10:48 +0000 UTC
