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In this video, economist Milton Friedman discusses the protection of the American consumer, examining the consumer advocacy movement and its successes and failures. He points out that competition within the economy is important and that international competition of free trade is perhaps the best source of protection for the consumer.

The '80s sitcom The Golden Girls popularized the idea that four older women could get along well as housemates. Now, with one in every three baby boomers single and approaching retirement, many women are turning to communal living to ease the burdens of aging. Special correspondent Spencer Michels reports.

Is the economic theory of utility a useful way of understanding consumer behavior? Ronald Coase and Gary Becker, Nobel economists at the University of Chicago, explain and discuss the theory of rational maximizing utility. They describe how consumers rank preferences and then attempt to choose the highest preference according to their resources, and they discuss whether firms and households operate with similar principles. They consider whether it...

Financial bubbles have popped up throughout modern history--from Dutch tulip mania to the more recent sub prime lending boom. Our cartoonist Kal illustrates what makes them burst.

Using easy-to-understand visuals and explanations, this program explores the branch of economics that focuses on the elasticity or sensitivity of consumers at the household level and of producers at the company level. Viewers are introduced to the central problem of scarcity and the allocation of limited resources in order to produce (and consume) goods and services. Main concepts include the market system, the law of supply and demand, price elasticity,...

China's investment in Europe is growing. Our cover leader explains why the money is welcome, but not when it is used to buy political influence.

Using Pittsburgh's steel industry as a case study, this bold documentary explores supply side economics and the trickle down myth, challenging the assumption that private corporations can be trusted to make the investments upon which all Americans depend. Called "impressive" by John Kenneth Galbraith, the film contrasts two Pittsburgh steelworkers' conventional faith in private enterprise with the actual strategies and priorities of U.S. Steel. Interviews...

Unions have played a vital role in American history, helping to improve working conditions and create the standard 40-hour, 5-day workweek. Since the 1950s, however, when one of three American workers belonged to a union, organized labor has been declining, dropping to one of five workers in the 1980s to just one of ten today. But unions may be on the verge of a resurgence, with employees at Amazon, Google, Starbucks, and other major companies organizing...

Barry Schwartz studies the link between economics and psychology, offering startling insights into modern life. Collaborating with Ken Sharpe, Schwartz has also made a study of wisdom. In this TEDTalk, Schwartz makes a passionate call for "practical wisdom" as an antidote to a society gone haywire with bureaucracy. He argues that while rules often fail us and incentives often backfire, practical, everyday intelligence can help rebuild our world.

Twenty-two years ago, Bill Moyers started documenting the stories of two ordinary Milwaukee families whose breadwinners had lost well-paying factory jobs. But as the Stanleys and the Neumanns found other jobs, got retrained, and worked any time and overtime, they still found themselves working harder and longer for lower pay and fewer benefits. In this edition of Moyers & Company, Bill Moyers revisits his reports on the two families and talks with...