This is the third lecture from the educational course "The economy of wealth" from Free Economy Institute.
This 15-minute video lecture explains what roles each person can play in the market economy. The lecture answers the following questions: What is the production process? Who is a capitalist and how is it useful for society? Who is the employee and what place does he occupy in the production process? Who is an entrepreneur, what does he do, and why does society need other people? Who is the consumer and what does he owner of? The lecture shows in details the importance of entrepreneurial profit and how it affects to the growth of well-being of people and the whole society. At the end of the lecture, the secret is revealed about the capitalist - about how he really looks. There will be done an important advice for future retirees.
The speaker is Director of The Free Economy Institute Michael Chernyshev.