CrashCourse - 2016-02-27
What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible economic practice in which giant corporations dominate markets and hurt consumers. Except when it isn't. In some industries, monopolies are the most efficient way to do business. Utilities like electricity, water, and broadband internet access are probably less efficiently delivered in competitive markets. Come along, and let us monopolize your attention for a few minutes. You might learn something. And you might land on Free Parking. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
One thing is sure:
There’s always money in the banana stand
In Pittsburgh you can pick and change your electricity provider. All the power plants are hooked to the same grid, but different plants charge different prices based on supply and demand. This keeps prices low without the government getting as involved with setting the prices.
As much as I want it to stay like that forever, prices will naturally go higher because supplies will get low and demands will rapidly rise. Of course, it's good news to the people. But once sources become very limited, that is the time when competition doesn't work and state socialism will be at its best.
So what happens if they agree to just stop competing with each other and always offer the same price? Or a company buys a bunch of power plants and shuts half of them down thus raising the price by reducing the supply. Both scenarios did happen in the past which is what sparked the anti-trust laws in the first place.
except electricity is something that can be created--by turbines or geothermal energy or whatever else. When would it become very limited, in this case? Supply would only be cut off in this case by reducing the number of people who can create it--in other words, by the other electricity providers shutting down due to poor business practices, or the government creating a monopoly...by seizing the means of production...which is socialism.
@Will Daure You can just make more electricity... When the demand exceeds the supply of electricity its called a power outage.
OMGG MR. CLIFFORD!!! He got me through AP-microeconomics with a 4 on the test! His channel is dope too! Glad to see him here :)
Havent watched a lot of these episodes since like #5, but the dude is pronunciating WAY more and not slurring. Good for him, I like him it's good to see him do well!
+BUB5 Thanks:)
+ACDCLeadership you're the man. thanks for making econ fun. just subbed to your other channel
Thanks. I appreciate it
Just trying to get some Uranium and Plutonium to build a Nuclear Powerplant in my backyard, but those damn monopoly controlling govment not letting me.
I just realized that the opening shows two friends starting from a lemonade stand as children, to partners that just got a loan to make an actual business, to a nationally recognized name brand... We watch two kids achive a huge goal in life in a few seconds.
yep, at&t tried to buy tmobile but failed... of wait its 2020 and theyre together now
jerry/larry/terry/gary riding lil sebastion is the best way i could have imagined learning microeconomic principles
Cramming these videos in for my final tomorrow... I'm going to love you two forever if I end up doing well
How did it go?
1:37: McMongol's, Burger Viking, Taco Bros and those awesome animations!!!
thank you animation team, this was the best class in my life!
Don't forget to hit the like button. These videos need more views.
+CrashCourse * Please add this episode to the playlist, episodes #25 and #26 are not in the "Economics" playlists, they're floating in the uploads sections. *
WAIT! Pharmatical researchers get to wear silly spacesuits??? Why was I not told???
Parks and Rec thought bubble! Brought a smile to my face.
I love how much more natural and organic they became. It's clear they feel more comfortable before the camera now
1:50, I dont think people walked in the street and said to themselves "I need a food truck right now". But rather the food truck came by and then the idea sprang about. Thus what happens is the exact opposite, the food truck generates 'demand', the people follow.
I love the Parks and Rec reference!!
How about you guys make a series on LAW? It's going to be really helpful for many of us, and it's a potentially unserved group of learners. Thank you for considering.
I was sent here from school work KCC wya
After watching most of this series, I've finally learned why I never see AC/DC belt buckles anywhere. Mr.Clifford owns all of them.
I'm a big fan of you guys! I haven't missed a episode of crash course economics! Keep doing it
Didn't monopolize my time since I was doing homework at the same time =p
AC/DC! Keep on rockin'
You guys are really fantastic.... I only wish I could be getting college credit for watching this!
You didnt mention the use of the Sherman Anti-Trust Act against Unions to protect the robber barons.
Dope AC/DC belt buckle!
Came to the crash course channel after ages and John green is no longer doing crash course!!!!! 😞😭😭
My favourite episode since they didn't half-heartedly abbreviate "don't forget to be awesome".
love the parks and rec thought bubble characters
lol I am a student and i need to book a flight to Denver this summer. I Should start shopping for airline deals
Try about 5-7 weeks before you go. And I heard Tuesdays after noon are best
Try about 5-7 weeks before you go. And I heard Tuesdays after noon are best
+Lexi Farr excluding Southwest, which airline sells the cheapest flights without making me feel like a second class citizen
Love your videos CrashCourse! Would be even nicer if you could leave some readings in the description for further studies!
love all the parks and rec references
You get better and better, here my thumb's up !
SO many Parks and Rec referencesI love this!
Monopol-vania intensifies
Big pharma also gets a lot of R&D from universities (we funded). And pharma spends much more on marketing than they do research (19 times more).
2:38 wilhelm scream XD
never expected this to show up on a crash course video
parks and rec!!!!!! s2
How come I have never heard of this channel??? Subscribed
Thank you for this video!
When are you going to talk about Steady State Economics?
if only this series is here when i was taking the class, i wouldnt have almost failed it :l great job CC
you'd still be painfully out of touch with reality.....
@Stevie Wonder
i know its different from reality its just the class that i struggled with because its different xD
Like with the eyeglass manufacturers owned by one company. I seen it on Adam ruins everything
Hi, why isn't this video in the cc economics playlist?
You beautiful people make this channel the best source of information for the layman. From all lame men, cheers (Y)
Year 2017, and here you are helping me. Thank you
I'm paying thousands of dollars to be taught this stuff in college, yet I'm actually learning it with videos online... smh
LOVE your video BTW but what happen to Closed Captions?
Another awesome video, Thank-You.
Prajwol Gyawali - 2020-04-17
Pure Monopoly - 1:00
Barriers to Entry - 1:10
Crony Capitalism - 2:35
Oligopoly - 2:52
Horizontal Integration - 4:25
Vertical Integration - 4:38
Usefulness of monopoly - 5:51
Natural Monopoly - 6:38
Non-Coercive Monopoly- 7:25
Price Discrimination - 8:14
Ash Bradshaw - 2020-05-06
Thank you! I didn't wanna go through the whole video and end up missing a question for my economics class.
RED GLOSS - 2020-05-18
Te amé
Wiiam Wiiam - 2020-05-23
Thanks man!
Jake G - 2020-05-23
you are a goat
ash d - 2020-06-11
You are an angel ty