Episode 26 - The Wealth of Nations 1.5 - Real and Nominal Price
Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics
English - March 09, 2018 23:48 - 40 minutes - 46.8 MB - ★★★★★ - 17 ratingsEducation Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Episode 25 - Monopoly
Next Episode: Episode 27 - Trade Wars
We're back with Book 1 Chapter 5 of Adam Smith's The Wealth of Nations. This week we're talking about Real Price and Nominal Price as Adam Smith describes them as well as what Smith feels is the constant measure of value. It's deep stuff and involves a Karl Marx impersonation.
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