Note: This is the tenth post in a weekly video series on basic microeconomics.
In this video Tyler Cowen covers commodity taxes, including who pays the tax and lost gains from trade, also called deadweight loss. He also considers how the tax wedge would apply to the example of Social Security taxes.
(If you find the pace of the videos too slow, I’d recommend watching them at 1.5 to 2 times the speed. You can adjust the speed at which the video plays by clicking on “Settings” (the gear symbol) and changing “Speed” from normal to 1.25, 1.5 or 2.)
Previous in series: How elasticity affects human trafficking
