• Unit 10: Economic Progress

    Welcome to the final unit of this course! During the unit, we look back at the concepts covered in this course and ask: what is the point of economic progress and constant economizing? We make the clear distinction between economic progress, as judged by individuals, and aggregate statistics, such as GDP.

    Completing this unit should take you approximately 2.5 hours.


    • Upon successful completion of this unit, you will be able to:

      • Evaluate whether "economic progress" is a valuable goal based on laissez-faire economics.
      • Explain the problems with attempting to quantify economic progress.
      • Explain why fixating on numerical measures of economic growth leads to an inadequate evaluation of quality of life.
      • Explain what policies can be conducive to growth, and what policies are prohibitive.

    • 10.1: What is Economic Progress? Lecture

      • 10.1: Lecture Page
        All of the actions and concepts discussed in this course are a form of economic progress, they allow individuals to improve their productivity and increase the value of their time, as well as the expected quantity of time they have. In this section, you are invited to think critically about what economic progress means, and why people pursue it. Is it necessarily a good thing? Do people actually want it? Watch this video lecture to explore how humans value economic progress. Topics covered include: Economic progress • Economic growth • Distinction between numerical measures of economic growth and subjective economic progress • Government policies to encourage growth can actually come at the cost of growth

    • 10.2: What is Economic Progress? Discussion

      • 10.2: Discussion Page

        Since you have watched the video lecture for unit 10, it's time to watch Dr. Saifedean moderate a discussion on the unit's theme by addressing questions asked by your fellow classmates. As you watch the discussion unfold, take notes to help you retain information. Make sure you watch the entire discussion seminar video, otherwise you may skip over important points. To get the best learning experience and mastery of the major concepts covered in this unit, you'll want to watch all videos in their entirety,

    • 10.3: What is Economic Progress? Review

      • 10.3 Review: Economic Progress Page

        This resource contains a summary of some of the key concepts discussed in unit 10. Don't skip ahead - the information on this page is easier to understand if you have watched the video lecture and discussion seminar video in their entirety. Bookmark this resource to keep it handy during studying.