It might seem like a silly question, and the answer depends on who you ask. From an economic view, though, it doesn’t look terribly complicated. Certainly, the dictionary definition is straightforward. Capitalism is an economic system defined by the private ownership of capital. But there’s a lot of assumed knowledge in a definition like that, so let’s define some terms. Private ownership simply means something is owned by individuals or companies rather than the government. While this concept seems straightforward, it can get a bit confusing when we talk about “public” versus “private” companies. In economics, “private” means exactly what …
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Today’s podcast is titled, “Consumer Behavior.” Recorded in 1995, Nobel laureates in Economics, Professor Ronald Coase (1991) and Professor Gary Becker (1992), both from the University of Chicago, discuss the strengths and limitations of utility theory in explaining consumer behavior and broader social phenomena. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
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In a business climate often fixated on competition and market share, some of the most successful entrepreneurs take a radically different approach. In one segment from a much longer conversation with Lex Fridman, Elon Musk challenges young people and those early in their entrepreneurial journey with a deceptively simple insight: focus on creating value, not capturing it. “Try to be useful… are you contributing more than you consume?” This fundamental question cuts to the heart of sustainable business success. While many aspiring entrepreneurs obsess over their slice of existing markets, truly transformative businesses expand possibilities for everyone involved. This might …
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Today’s podcast is titled, “Preferences, Self-interest, and Subtle Choices.” Recorded in 1993, Nobel Prize winning economist Dr. Gary Becker and Aaron Wildavsky, Professor of Political Science and Public Policy at UC Berkeley, discuss the ways in which preferences and self-interest influence our decisions. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
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Today’s podcast is titled, “Money.” Recorded in 1992, Daniel Gressel, PhD, Economics, University of Chicago, Milton Friedman, 1976 Nobel laureate in Economics, and Robert Hall, PhD, Economics, Stanford University, discuss money, inflation, and monetary policy. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
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It’s no secret that economics education in America is sorely lacking. But how do we make economics engaging for young minds? Enter The Adventures of Jonathan Gullible, an animated series that transforms complex economic principles into accessible, entertaining stories that resonate with students of all ages. Just as Milton Friedman used easy-to-understand examples and language to explain economics to television audiences in his groundbreaking Free To Choose series, this delightful series makes free-market principles digestible for today’s young viewers. Based on Ken Schoolland’s beloved book, the series follows Jonathan’s adventures through a world where economic freedom and personal liberty intersect …
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Sometimes, the most interesting business stories start with a simple observation. That’s exactly what happened when Bo Burlingham, writing for Inc. Magazine, visited a quirky deli in Ann Arbor, Michigan. What he found at Zingerman’s wasn’t just great food—it was a completely different way of thinking about business success. The article Burlingham wrote about Zingerman’s, dubbed “The Coolest Small Company in America,” sparked something unexpected. His publisher noticed a pattern: successful companies actively choosing not to expand as aggressively as possible. This insight led Burlingham on a journey that would challenge conventional wisdom about business growth and eventually culminate with …
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Today’s podcast is titled, “A Conversation with Arnaud de Borchgrave.” Recorded in 1987, Arnaud de Borchgrave, Editor-in-Chief of The Washington Times and co-author of the novel, The Spike, discusses the early years of his journalism career as a war and foreign correspondent that took him to the world’s hot spots and shares his observations of the US media. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
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Remember the magic of Saturday morning cartoons? The excitement of following your favorite characters on their weekly adventures? Now imagine if those adventures also taught valuable life lessons about economics, critical thinking, and personal responsibility. That’s exactly what The Adventures of Jonathan Gullible delivers—and here are five powerful lessons your children will learn while being thoroughly entertained. The Power of Asking “Why?” Jonathan’s greatest superpower isn’t strength or speed—it’s curiosity. Throughout his adventures, he constantly asks, “Why?” when encountering strange rules and customs. Why can’t people start new businesses? Why are some jobs protected while others aren’t? Why is innovation …
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Today’s podcast is titled, “Evolutionary Economics.” Recorded in 1999, Dr. David B. Audretsch, Director, Ameritech Chair of Economic Development and Director, Institute for Development Strategies, Indiana University, and Professor Ulrich Witt, Director of the Max Planck Institute for Research into Economic Systems, discuss the development of evolutionary economics as a field of study. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
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