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Curated by: Richard J Murphy (21 videos)
Most people think economics is about money. It isn’t. Economics is about how society organises itself to meet people’s needs and help everyone thrive. In this first episode of my new Understanding Economics series, I explain why economics is much bigger than money, markets or finance, and why understanding it matters to every one of us. I begin with three simple questions that every society must answer: • What should we produce? • Who should do the work? • Who should benefit? From there, I explore why governments matter, why markets are only one part of the story, why resources are more important than money itself, and why power shapes every economy. This series is designed for everyone who has ever wondered how the economy really works but found traditional economics confusing, overly technical or detached from everyday life. I’ll explain economics in plain English, starting with the basics and gradually building towards the big ideas that shape our societies. Whether you’re completely new to economics or want to rethink what you’ve previously been taught, this series will help you understand the economy and how we can make it work better for everyone. If you enjoy the video, please subscribe and follow the Understanding Economics playlist as new episodes are released. I will publish new videos regularly, and this series will build into a complete introduction to economics as if people matter from first principles. Take a look at our poll: https://www.youtube.com/post/UgkxJVZ68YYLNng17kRYAlNYTiIwWCxltLbi 00:00 Welcome to Understanding Economics 00:47 Why This Series Exists 01:28 Economics Is Not About Money 02:20 The Three Fundamental Economic Questions 03:15 Why Rules Create Economies 04:05 Markets Are Only Part of the Story 05:00 Resources Matter More Than Money 05:47 Power Shapes Economic Outcomes 06:35 Why Economists Disagree 07:02 Putting People First TRANSCRIPT A transcript for this video is available at: https://www.taxresearch.org.uk IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp/ HOW TO SUPPORT US Please consider donating: https://ko-fi.com/taxresearch ABOUT RICHARD MURPHY Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. RICHARD MURPHY ON BLUESKY: https://bsky.app/profile/richardjmurphy.bsky.social OR ON MY BLOG: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION: https://www.youtube.com/watch?v=HdHsRPy3060 PLAYLISTS: The Wealth Series https://www.youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD Ecenomics https://www.youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4 Britain https://www.youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10 Tax https://www.youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY MMT https://www.youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX Money https://www.youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m Climate Change https://www.youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ USA https://www.youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H Labour https://www.youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw The Trump Administration https://www.youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx #richardmurphy #richardjmurphy #economy #economics #accountancy #accounting #tax #uktax #ukeconomy #greennewdeal #uk #money #economy #politics #government #tax #labour #health #life #Economics #UnderstandingEconomics #EconomicsExplained #PoliticalEconomy #Markets #Government #Resources #PublicPolicy #ModernMonetaryTheory #MMT #EconomicEducation #EconomicTheory #Society #PublicServices #RichardMurphy #EconomicsOfHope #Education #Politics #Power #Economy