What is "classical liberalism?" Is it a specific set of beliefs, a philosophy, an economic theory, or something else? In this video mini-course, Dr. Nigel Ashford of the Institute for Humane Studies explores what classical liberalism -- sometimes referred to as "libertarianism" -- actually means. Dr. Ashford looks at 5 different schools of classical liberalism, and examines their similarities and differences.

Ever wonder why people don’t do everything for themselves? In this video, Professor Art Carden of Samford University explains how specialization and trade create wealth and make us all better off.

This thought experiment, based on an essay by Professor Thomas Nagel, Philosopher at New York University, encourages students to question the morality of intervention. Professor Nagel attempted to liberate a spider he found living in a urinal from it is seemingly terrible living situation, only to find it dead the next day. Wracked with guilt, he began to question his decision. Should he have moved the spider? What would you have done?

According to Professor Aeon Skoble of Bridgewater State University, the word “value” has very different meanings for economists and philosophers. Economists view value as subjective to reflect individual tastes and preferences. Philosophers, on the other hand, use the term objectively, to refer to concepts such as rights. In this video, Professor Skoble explains how these different conceptions actually compliment each other.

Many people are concerned with growing national debt, but according to Professor Antony Davies of Duquesne University, there are a lot of misconceptions. In this lecture, Professor Davies explores ten common myths about inequality, covering everything from the causes of the debt to potential solutions.

According to Professor Amy Sturgis of Lenoir-Rhyne University, the Trail of Tears shouldn’t have happened. In this video, Professor Sturgis explains both the moral and legal arguments used to protest the forced removal of the Cherokee Nation to "Indian Territory" as well as why it’s so important that we remember the Trail of Tears today.

Traditionally, American presidents have supported free trade--or at least less restricted trade. But the new administration has invoked tariffs and possible renegotiation of longstanding trade agreements. Academic economists are all but unanimous on the benefits of free trade, but a few dissenters say free traders live in a fantasy land, ignoring economic reality. In this debate, Dr. Michael Hudson of University of Missouri Kansas City and Peking University and Dr. Farhad Rassekh of the University of Hartford debate whether the US should pursue a policy of free trade or protectionism.

People living together must find some way to preserve common resources. Unfortunately, there are strong incentives for people to exploit these resources when they are held in common by everyone. Professor Sean Mullholland of Stonehill College explains what causes this problem, known as tragedy of the commons, and potential solutions.

What is mercantilism? How did economics contribute to rising tensions between the North and the South in the years before the Civil War? What caused the Great Depression? In this video course designed specifically to help students study for the AP US History exam and SAT Subject Test, Professor Brian Domitrovich of Sam Houston State University explains key events in US economic history and surveys different (and sometimes opposing) viewpoints on each event.

In 2011, federal government spending significantly outweighed revenue. While the federal government spent $3.8 trillion, it collected only $2.2 trillion from various taxes, licenses, and fees. In this video, Professor Antony Davies of Duquesne University explores what the federal government is spending money on and what can be cut to balance the budget.

According to Professor Michael Munger of Duke University, prices are akin to magic. In this video, Professor Munger explains how prices convert countless pieces of dispersed, complex information into a single signal that conveys to sellers what they should do to best benefit society.

What if there were no prices? How would you use available resources? In this video, Professor Howard Baetjer Jr. of Towson University leads you through a thought experiment to illustrate why market prices are essential to human well-being. Suppose you were the commissar of railroads in the old Soviet Union. Markets and prices have been banished. You want a railroad from City A to City B, but between the cities is a mountain range. You can build the railroad around the mountains and use more steel or through the mountain and use more engineering. Which should you choose?

The national debt is so big that it's often hard to comprehend. In this video, Professor Antony Davies of Duquesne University presents the government’s fiscal situation scaled down to the level of an average household to help students understand the national debt.

Why do we exchange things? In this video, Professor Michael Munger of Duke University explains that exchange helps correct mistakes in the allocation of resources and makes everyone involved happier.

Many have suggested raising taxes on the richest Americans to help offset pay off the national debt. In this video, Professor Antony Davies of Duquesne University uses data to assess how much of a difference taxing the rich would make.