Ninth lecture of Principles of Economics explores trade as voluntary exchange that benefits all parties, explaining subjective valuation, absolute and comparative advantage, and how specialization and the division of labor raise productivity, cooperation, and civilization.

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Eighth lecture of Principles of Economics examines energy and power as essential drivers of production, showing how abundant energy, especially hydrocarbons, raises productivity, expands trade and living standards, and helps explain prosperity, freedom, and the decline of slavery.

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Seventh lecture of Principles of Economics explores technology as non-scarce knowledge that raises productivity and drives long-term growth, explaining why innovation creates new work instead of destroying it, and examining the economic arguments surrounding intellectual property.

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Sixth lecture of Principles of Economics explores capital as saved resources that lengthen production to raise productivity, showing how time preference governs saving and interest, why capital is costly and fragile (depreciation, risk, destruction), and how capital accumulation drives higher living standards.

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Fifth lecture of Principles of Economics explains property as the only workable solution to the problem of scarcity, how ownership prevents conflict, the logic of self-ownership, and how secure property rights enable saving, capital formation, peaceful cooperation & civilizational advance.

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Fourth lecture of Principles of Economics explores labor as the sacrifice of leisure for future gain, explaining disutility, production and productivity, how wages reflect marginal output, why work never disappears, and how voluntary labor and capital raise the value of human time.

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Third lecture of Principles of Economics examines time as the ultimate scarce resource, showing how all human action unfolds across time, why opportunity cost exists, how time preference shapes choices, and how economizing time drives production, saving, and civilization.

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Saifedean debates Peter Schiff on gold, bitcoin, and the future of money, during the PlanB Conference in San Salvador!