# Economics on One Foot

**URL:** <https://www.libertarianism.org/videos/economics-one-foot>

**By** Art Carden

**Published:** September 27, 2011

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How quickly could you sum up the principles of economics? While standing on one foot, Prof. Art Carden discusses the following economic principles in just over two minutes:  
  
● Individuals strive to achieve their goals in the best ways possible.  
● Every action has a cost.  
● Incentives matter.  
● Value is determined on the margin.  
● Profits and losses help gauge value creation and destruction.  
● Government interventions often have unintended and undesirable consequences.

For more, visit [LearnLiberty.org](http://www.learnliberty.org/).