Economics is Fun, Part 7: Middlemen

Madsen's talking middlemen today — those wicked people who buy things for one price and then sell it to someone else for a higher price. But, it turns out, this is actually quite a useful function, both for the seller and the buyer. I remember back in school being taught about how middlemen were exploiting the poor, and if you didn't buy things directly from the seller you were exploiting them too. Even back then it didn't sound right, and I wish I'd had a video like this to explain why.

There are thirteen more videos to come in this series, and the whole lot can be viewed as they're posted in this playlist we've made. You can also subscribe to the Adam Smith Institute's Youtube account here to get notifications about this and other ASI videos as we post them.