Voluntary Trade is Win-Win!

-¿Qué sucede aquí?
-Solo haciendo un intercambio. ¿Un lápiz por un teléfono? ¿Estás loco? -Un lápiz no vale tanto como un teléfono.
-Tienes razón. Vale más. ¿Realmente cambiarías
un teléfono por un lápiz? -¿Por qué?
-No lo sé. Simplemente me gusta este lápiz
más que ese teléfono. Es por eso que hice el intercambio. Pero no puedes intercambiar
dos cosas que no tienen el mismo valor. Estos dos artículos definitivamente
no tienen el mismo valor. Las personas solo intercambian dos cosas
que son más valiosas que la otra. ¿Qué? -¿Cómo es posible?
-Bob, no me arruines esto. ¿Recuerdas cuando expliqué que
el valor económico es subjetivo? -No estaba en ese video.
-Yo lo recuerdo. Bueno, este es un concepto similar. Las cosas valen lo que la gente
está dispuesta a pagar por ellas. La razón por la que estaba dispuesto a cambiar mi teléfono
por el lápiz de Sarah es porque valoro su lápiz
más que mi teléfono, y ella solo quería mi teléfono porque ella valoraba
mi teléfono más que su lápiz. Para que un intercambio funcione,
tiene que haber algún tipo de ganancia
para ambas partes involucradas. Si no, no habría razón para intercambiar. Y si vemos el artículo que ya tenemos como más valioso de lo que
queremos intercambiar, definitivamente no querríamos
intercambiarlo. Entonces, cuando elegimos intercambiar, eso significa que cada uno valora
lo que obtuvimos del intercambio más de lo que intercambiamos. Y eso significa que de alguna manera
los dos somos más ricos de lo que éramos antes del intercambio. Así que, solo intercambiando
hemos creado riqueza. Eso tiene sentido, pero por qué… ¿Por qué encontrarías
este intercambio valioso? Realmente te molesta, Bob,
y eso me resulta agradable. ¡Pero los teléfonos cuestan mucho!
Y los lápices son tan… baratos. No se trata de dólares y centavos. Simplemente no sabes por qué algo
vale lo que vale para otra persona. Tal vez solo odiaba tener un teléfono
y resulta que necesitaba escribir algo. Tal vez mi abuelo le dio
este lápiz antes de morir. O tal vez es algún tipo de lápiz
de edición limitada especial firmado por Babe Ruth. -¿Por qué Babe Ruth firmaría un lápiz?
-Así la gente sabría que era suyo, Bob. O tal vez la razón por la que
este intercambio valió la pena fue porque así podría enfatizar
sobre el intercambio creando riqueza. Como sea,
tendrás que acostumbrarte al hecho que no todos valoran las cosas como tú. ¡Dios! ¡Qué intercambio! ¿Qué? Qué exquisito lápiz. ¡Te lo dije! ¡Hola a todos! Gracias por mirar. Para más contenido como este
visiten FEE.org.

100 thoughts on “Voluntary Trade is Win-Win!”

  1. "As a company, why pay an animator all that money for barely good enough art and animation, when you literally cannot quantify the value of that animation in revenue and profit??"

    Because the value of articulating and communicating ideas, in this case the virtues of Free Trade, is greater to the people running that company than the money they're holding.

    They have money, they want animation done. The animator has the skills to do animation, and wants the money.

    Free Trade wins again!

  2. So……. what's fee's mailing address I got pencils to send phone calls to take and they have plenty of points to make

  3. So your saying… all trades are satisfying to both parties. Yes, that was a joke, but seriously:
    Trades we make by providing labor and receiving services later are often unsatisfactory for us – yet the best we can get. Physical products are so cheap that people would gladly provide more valuable possessions in order to satisfy laborers, and bartering is indeed more intimate and beneficial. Fun Fact: I advocated for communism with these statements.

  4. This video doesn't make sense at first but I get what they meant… but seriously… Pencil and Phone is too far of a stretch even for an example, still a funny video.

  5. Wow, this is an absolutely fantastic explanation as to why basic human necessities like, healthcare, housing, utilities, etc shouldn't be dictated by market forces. Because the "worth" of basic human decency will always be "your entire paycheck". This video really hits the nail right on the head. A+. Keep up the fantastic work.

  6. I don't even know what to say … it's really stupid, you want to put sentimental value in the same level of real value?

  7. This implies that people always make rational decisions. Consumer protection, people regretting decisions, changing their minds, etc.

  8. Really needed this video earlier this week when some illiterate socialists (but I repeat myself) we’re arguing that landlords didn’t contribute anything useful. Because people who live with their parents take shelter for granted, I guess.

  9. You could have sold the phone for… Idk 20 bucks? And have bought 10 pencils. I approve of the equal value argument, because even though there is that "objective economic value" you could have gotten more for less for the market economic valur

  10. Reminds me of that one Adam Ruins Everything video about how gift-giving is bad for the economy because we can have a hard time guessing how much the recipient values the gift.

  11. The community of Team Fortress 2 needs to learn the concept of voluntary trade. A long time ago I traded a weapon for a different one and everyone on the server flipped their shit and said I got "scammed." I explained to them over and over again that it isn't a scam because I agreed to the trade and the weapon I sold wasn't worth much to me (I think it was an awper sniper rifle) just because the community deemed it to be worth a lot. They still insisted I got scammed even though I was 100% satisfied with the trade.

  12. I totally get this ONE! I recently bought a Good Times fairy tales collection dvd and Treasure Island by API studios. Shipping was pricey for the latter. They are both old and rather dated cartoons, but the nostalgic value they give me is so much more than I get from many current movies.

  13. Two quotes from the video that make me question the assertion of it being "win win" for both parties,
    "You just dont know why something is worth what it is to another person"
    "You're going to have to get use to the fact that not everyone values things the same way you do"
    Seems like a lot of unknowns for such a bold assertion. I agree arguments can be made for it being win win but there are just as good agreements as to why its not.

  14. These videos are everything I wish school would have taught me while they wasted time on cursive and incorrect history. I had to go read on my own to get decent information. Fortunately, mutually beneficial trade is something you can see and appreciate every day. It happens so often that people take it for granted, but it's one of the most beautiful interactions people can have. When you buy or sell something at an agreeable price, each party says "Thank you."  That's the closest to world peace a species honed by survival is ever liable to get.

  15. Funny how I replaced my broken iPod — a huge household purchase at the time, big Christmas thing, maybe like $60-80 — with a $20 phone from Safeway that can hold more songs, play videos, play games, and surf the web. Phones aren't as expensive as all that.

    Main annoyance, though: The iPod had buttons I could use to move through songs without looking at the screen or even taking it out of my pocket. Even my new, fancier (hand-me-down) phone doesn't do that 🙁

  16. This concept is only ethical if both parties are well informed and neither party is applying pressure or coercion or making false claims about the good(s) they are trading.

  17. Nope, they may hold more emotional value, but the market doesn't give a shit about sentiment, and at the end of the day it is the dollar amount that matters, Dollars pay the rent, sentiment does not.

  18. You should have mentioned that people don't always make a rational decision. If you traded your phone for a pencil to make this point, there would surely have been been better things to get, rather than a pencil. Or advertisement. It makes things valuable to people, which weren't before and aren't afterwards.

  19. Economic value is SOMETIMES subjective. In this case, a $0.30 pencil will never be the same value as a $500 phone. Ever. Regardless of temporary need. Sorry Seamus, I like you and all but, this is common sense.

  20. Been buying selling and bartering for about 10 years now. I'm 25. Yugioh cards as a kid, after quitting my job buying and reselling old video games. Just got a 3ds and 4 good games for $20. Now to resell it for about 60 plus to make a fair deal and quick profit, or maybe even a trade for something better. Thanks free market economy

  21. Nope. I don't agree with this trade because I feel you're getting ripped off. Therefore, I have the right to scribble down on a piece of paper that I have the right to send men with guns after you both and lock you in a cage or murder you if you resist enough if you don't do the trade that I feel is correct and fair.

  22. I hate to be that guy, but this only works if both trade partners are aware of the relative value of the products being traded. If a country abundant in natural resources has no concept of the value of said resources due to technological limitations then that could easily be exploited. It has been exploited throughout history in fact.

    Bob may have a point in raising an objection to try and prevent that for his country. In fact it is this very principle that is the reasoning for Donald Trump's trade renegotiations. He feels the US is being exploited, as he should in many cases.

  23. Trade pencil for phone
    Make simplistic video describing free trade and implying it can be equally applied to any exchange
    Recieve koch brothers funding
    The free market works!

  24. I sell cats. Cats that can grow up to an excess of 20 lbs. Cats are plentiful, but the breed I sell is an imported breed from Russia. I make over 1000 per kitten and over 2000 per kitten if the buyer is a fellow breeder. I then take that money and use it to transport cats from impoverished areas here and adopt them out to rich people. This place hasn't needed euthanasia in a long time as there is no population excess around here.

    Adopt, and shop.

  25. There's another YouTube channel called Extra Credits and they dedicated a few episodes on the topic of money. They go really in depth about the history it and why we even use money in the first place. I recommend checking it out.

  26. But your argument for having created wealth is that wealth, as defined by the percieved value of goods (or services by extension), is entirely subjective. Such barters might work on a small scale for a one to one basis or in small communities, but a system of subjective value with no standard for measure is not really applicable to a much larger scale economy such as an entire country of tens or hundreds of thousands of people; and only works in international trade because the things being traded between nations are mutually understood to hold a certain amount of value based on a metric of currency

  27. Economic value is subjective is the basis for the mess we have now with no gold standard. It's called speculation and it sold be a crime. That's coming from someone who despises Communism. Tell me if I'm wrong and why. The only reason this "works" is because of the illusion of the Petro dollar and the army behind it. Bullshit.

  28. An item is only worth, what u will pay to have it.
    Ps: maybe she stuck the pencil, somewhere warm and wet, and he wanted to give it a sniff.

  29. I came into the video expecting a summary of the famous essay “I, Pencil,” but this was still good too.

  30. Wow this video taught me something very important. Instead of income inequality we should talk about trade inequality. That is the real problem. That guy should have not got that pencil since he have that phone. That should be illegal let’s make regulation to stop it. 👍 jk😂
    Good video. If only I can make these type of YouTube videos then I would gladly ask for the pencil ✏️.

  31. The reason trades like these still piss me off is because if the guy who got the pencil was smart and sold the phone for an amount of money slightly less than retail value, he would’ve been able to buy dozens of pencils and have money left over. Sure, these trades grant wealth but not as much as a trade where you were patient and simply waited for someone else willing to pay more.

  32. China manipulates its currency, so it's not a fair comparison. The if the rules of the game are skewed, then this theoretical stuff goes out the window.

  33. That pencil was once used by Elvis to write the song “Hound Dog”. That phone was stolen. Clearly he wanted to trade a stolen phone for a pencil with history. Obviously.

  34. This is the reason that capitalism is the most moral system we have. People don't freely exchange in a trade that doesn't add value to their lives. This is why it's silly when entrepreneurs use the phrase "giving back" – they've already given!

  35. Free market economies benefit both sides of trade (buyers and sellers). But that doesn't mean it's beneficial to society in general, because of the externalities (impact of economic activity on the rest of society), which can be quite detrimental in some cases.

  36. Yep, another example. A freak otaku willing to pay hundred dollars for used idol's underwear because he value it more than common people.

  37. What if I value my ability to afford to live over the actual revenue to obtain my labor. I know my labor should be worth more, but I'm not in a position to make any optimal trade that will increase my wealth.

  38. Your videos are usually great but it really sucks for you to gloss over something so huge and obvious as information asymmetry when talking about the subjecrivr value of goods in trades

  39. now the question remains; how are you going to sharpen that pencil? will you find someone willing to trade a pencil sharpener for something they value more? sayy that log of wood sitting on your lawn, then the guy turns that wood into more pencils!!

  40. I get the concept but wouldn't trading a diamond for a bottle of water count as exploiting since the owner of the diamond doesn't really have choice so the trade isn't really voulanteer

  41. You can sell your phone on ebay for $500 then buy the pencil for $30. Still a good deal for the pencil seller. Trading $1000 for $3 is simply dumb, even though I know you are trying to make a point.

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