Awesome initiative. Being a middle class indian I never tried those roadside barbers, but you actually did. That's a lot of dedication sir. Great video.

Dhanyvaad sir ji.. People like you are blessing to someone like me who can't afford higher education.. Thank you sir, and to your whole team. Next time when come to India just upload video message sir would love to meet you and thank you personally 🙏

this is really unprecedented way of teaching...u r going well..my gratitude to your videos..

Explained so beautifully! Thankyou so much for the efforts.

I thought an Adidas soccer jersey in Mexico would be more cheaper than U.S, and I was wrong. Now I understand why. Yay economics!

Welcome to India.... This will be your most popular video.... Indians love youtube and economics... Make videos on Indian economy your channel will grow very very fast... Just try and see....

50 rs for a haircut you could've got it in 20 rs.

This channel surely deserves more subscribers

this is such a well produced video! the presentation reminds me of science for kids tv shows. they make science fun by showing it rather than blandly talking about it. this would be a perfect video for a classroom.

Economics for middle schoolers? I am in a university class and this is more helpful to me, than text. This needs to be implemented in public education I wish this was studied when I was in public middle school in Missouri.

It was a fun experience & I learnt a lot making this series of videos on Developmental Economics with Alex Tabarrok four years ago in September 2017.

Great video. There's a flaw in one of the linked practice questions though. One of the questions is as follows: Q. 3. Consider two families of the same income: one family is in a developing country and the other family is in a developed country. Which family is more likely to have a dishwasher? Remember both families have equal incomes. OK, it seems to me that the answer is unclear. Both families will purchase both goods and services. If they have equal incomes, the family in the developing country is in some sense richer, since they pay the same for goods but less for services. Doesn't that mean they have more money left over for luxuries like a dishwasher? But on the other hand, labor might be so cheap that they can hire a person to do their dish washing instead of purchasing a machine for it. But it's not obvious at all. (On a different note: Wait a minute... wouldn't a hired dish washing person be known as a "dishwasher"? If so, the developing country family "has a dishwasher" either way... perhaps "dishwasher" was not a great example to choose for this question...)

Sir! New to ur channel, not an economics student but was thinking of learning economics, stumbled upon ur channel saw a whole playlist on indian economy( needed badly as i myself from New Delhi), really loved the way u explained the topic, even a noobe like me got it! Excellent work!! Just a small request, can u make similar series explaining indian economic history.

1:28 Hey man are you going to buy this phone or what?!

Hi I wasn't understanding a bit of economics but your videos and simple explanation is made me understand a lot. Thank you so much. I will continue to watch new videos.

Incredible video! Unprecedented way of teaching!

Very informative and creative method to illustrate how we encounter PPP almost everyday in our lives. Thank you

So goods are usually equally priced, but services vary over different countries because of differences in PPP?

I wasn't interested in Economics until I found their videos. Lots of respect professors. :)

Beautiful explanation. And your Hindi ain't half bad either😋

Welcome to India!

best channel of economics with practical models.Thank you for such great content

Underrated channel

2:32 when you was expecting to get paid in US dollars. 2:32. When you were expecting to get more lmao

Dhanyawad apko sir...

Once i paid .12 usd for a haircut and shave in rural india.

It would be amazing if you could share the sources on the description! Keep the good work

I love your Hindi and your videos are THE BEST for economic learning to beginners ♥️👏

Amazingly presented and explained 🙌

The way they present economics to layman like us is unbelievable.....

How does Purchasing Power Parity get calculated between countries?

Great & simple way of explaining.

Didn’t Tyler Cowen on MR say that purchasing power parity can’t exist and that’s one of his biggest disagreements with Mises? I’d be interested to hear Tyler elaborate on his perspective

he just walked out.

Exactly, that's why I was thinking for few days that only per capita income can't define the living standard of any country.

Great video!

Thank you for this video and great effort in making this happened. Liked and subscribed to the channel. Keep doing a fantastic job 🎆🎇☺

Haha that was a cool video. Cool to see him in India talking to real people. I can't imagine they made a profit on this video though.

Not that I'm offended or something, but the India shown in this video is majorly what a small town or maybe a backward area of a big urban city looks like. Smartphone shops are a lot bigger and more and more high tech salons are coming up now which easily charge over 6$ for a simple haircut. No, Rajoo is not as good as any other barber in United States because he probably migrated from a rural city and now running his roadside barber shop. They have proper training for all kinds of services now and they look a lot professional working in luxurious salons, so much that most of the middle class people avoid going to them because let's face it, it costs more than 10 times to go to them. I actually liked this video, serves the purpose well but just my insight that it used to look like this a decade ago.

Thank You !!

Nice to see you in my country!

With all due respect sir , can u please update yourself with the fact that India is not a poor country, it is a developing nation

Hair cut is for Rs 130 now in Pune.

Awesome informative video, you just earned a subscriber 😊👍

What a fantastic way of teaching

Dhanyawad .....

Why did she slap

balassa samuelson effect! Got this effect name after googling it for long time. So, it might help you to save some time!

Great to see some good mind-expanding content on youtube.

bro that cut looks good af AND it was less than 1 dollar AND go got a head massage out of it??

So crazy.

I was very distracted trying to decide if that last part was taped before or after the haircut. looks the same to me.

im confused. Wouldnt the PPP also be decreased when people earn less? 1$ goes a long way in a poor country but many people in poor countries are poor, and 1$ can be 'alot'?

Very well explianed sir👏👏

Where is the video of "Purchasing Power Parity corrections" ?

giving real meaning to education

Fascinating💫

thanks

Dear Professor. God bless u thank u very much for this video. I can understand the theory of economics by connecting it with real life examples you gave! Anyway, do you have open economy topic? Thank you sir..

2:20 Literally laughed out loud xD

Barbers in my city take Rs 40 for haircut. But yeah, he gives you the excellent massage at the last that's very interesting to see which I missed here in my city.

thank you

The fact is this that rich countries think that the value of the life and time of their people are more important so they keep their price high and now because of globalization when the labor can be sold from far away with the help of information technology so their local citizen are not that competitive now when compare to the labor of developing or undeveloped countries.

welcome in india sir

love this

He did not buy iPhone because it was expensive in india and got a haircut because it was cheaper.

now it makes sense why services suddenly get 'expensive' for tourists in india xD

WOW

Why don't people talk about labor price purity rich countries print their currencies like progressive countries like India do.If the productivity of the two person is same why the fee of their labor is differs this the way rich people keep them rich.If two person run the same distance at the same time how to justify the difference fee pay to them? The price of a currency should be divided by the total natural resource of that country divided by the total currency (physical+electronic) form in that country and take any base currency to evaluate that.

Lol they dubbed the barber 😆

did you actually learn hindi Alex ? :)

Are you in Mumbai?

C`est geniale

welcome india , sir , ty for ur visit

Angola is a poor country but its Lwanda is more expensive than London or Zurich in some indicators. What is this phenomena?

nice nice

India is so poor, but it’s getting richer

welocome to INDIA sir.....hope you enjoy...

You should have thanked Mobile Shop Keeper before walking out abruptly. That was very uncourteous.

Welcome in india sir. If you are here in india I want meet you . Thanks

Why samuelson effect...😂. Samuelson isn't the first to notice this...haha...formalize common sense using maths and get an effect named after you in economics.

We are soon gonna charge extra for that stereotypical music.

Not everyone barely poor people go for haircut in such footpaths

Of all the places he could go and get a haircut in India (Toni&Guy, Jean Claude Biguine, etc.), and still prove the economics, he goes to Raju. Thank God Raju gave him a great one, else he would have complained about inferior services at low prices.

welcome to India

I have grown up in india and trust me i would never go there for a haircut as your prone to infections due to lack of hygiene.

Barber know English

Oh my god, and i thought india was more developed, a tent barbershop? ... I havent seen those in my area since 1997.

Are you in mumbai if you need any help im ready to help you indians are very helpful you will never get lost here cheers:)

India kicks ass!

To all the westerners out there- STOP PUTTING THAT STUPID MUSIC THEME INTO ANYTHING AND EVERYTHING RELATED WITH INDIA. I am an Indian and I am sure it doesn't represent our true identity at all!

if we are being honest, this professor is kinda cute.