Unit 4: Capital and Technology
With the foundation laid in the first three units, we will now examine some of the most important economic tools humans use to increase the amount and value of our time on earth. In unit 4 we discuss the concept of capital, and the economic choice it entails: the sacrifice of present enjoyment in exchange for an uncertain chance at acquiring goods that can increase the productivity of human time, and how capital accumulation is related to time preference. We also discuss the economics of technological advancement, and how powerful ideas are.
Completing this unit should take you approximately 3 hours.
4.1: Capital, Technology, and Human Productivity Lecture
4.2: Capital, Technology, and Human Productivity Discussion
4.3: Capital, Technology, and Human Productivity Review