A discussion of the notion of trade and exchange, including the purpose of these activities, the gains from trade, and the role of comparative advantage. I also examine some recent trends in global trade, and briefly discuss some of the major global trade institutions such as the WTO and World Bank and their role in attempting to reduce trade barriers. The episode concludes with a brief discussion of the concept of 'Buy Local'. Recommended pre-listening is Episode 12: The Price System.
Episode 27: Intermolecular Bonds and Phase Transitions
Episode 26: Human Organ Systems
Episode 25: Organs, Tissues and Systems
Episode 24: Vibrations and Waves
Episode 23: Chemical Reactions
Episode 22: Our Place in the Cosmos
Episode 21: Introduction to Evolution
Episode 20: The Reliability of Memory
Episode 18: Biochemistry Basics
Episode 19: Market Failure
Episode 17: Energy, Work and Momentum
Episode 16: Profits and Competition
Episode 15: Chemical Bonding
Episode 14: Principles of Quantum Mechanics
Episode 13: Newtonian Mechanics
Episode 12: The Price System
Episode 11: The Origin of the Universe
Episode 10: The Cell
Episode 9: Matter and Molecules
Episode 8: The Atom
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