In this module we summarize the course content after first introducing key features of the economic ideology on the left and the traditional right. We revisit two videos from earlier in the course showing a stark difference in opinion about the nature of the invisible hand between Milton Friedman and Joseph Stiglitz, two Nobel prize winners in economics. We argue that each position makes sense once highlighting the key assumptions each is making and that the differences in opinion are much smaller than it appears. Finally, we consider the role of government in affecting economic outcomes and the reasons people disagree about the effectiveness of government. The role of ethics in economic decsionmaking is show to be key to understanding the differences in opinion between the two sides.

The Goal of Economics - 5 minutes

The Political/Economic Spectrum - 13 minutes

Stiglitz vs Friedman on the Invisible Hand - 15 minutes

The Role of Ethics in the Economy - 16 minutes

Stiglitz vs Friedman on the Role of Government - 18 minutes