Northwood University has unveiled a new video lesson, “Free Markets and Sustainability,” as part of its complimentary online course, The Philosophy of Free Enterprise.
“Is a free market bad for the sustainable use of resources? That’s what many people assume. But, in fact, the opposite is true — the data show that historically, the more economic freedom a country has, the better its environmental stewardship,” explains Dr. Dale Matcheck, David E. Fry Endowed Professor in Free Market Economics and presenter of the newest lesson in Northwood’s online course.
“Market-based economies have higher incomes, and people with higher incomes are more concerned about environmental stewardship,” Dr. Matcheck states in his lecture. “But beyond that, the key features of a free market, including private ownership, profit seeking, and market prices, all tend to promote the sustainable use of resources.”
Regarding wildlife conservation, Dr. Matcheck cites real-world examples that illustrate how entrepreneurs have played a significant role in bringing endangered species back from the brink of extinction. He also explains how the link between effective conservation and private ownership is not just limited to wildlife, and why incentive-based regulations are more effective than prohibition.
“Effective environmental stewardship allows people to benefit from their own conservation efforts and holds them accountable when they fail to do so,” Matcheck states. “A free-market economy based on private ownership, the profit motive, and market prices is not the root cause of poor environmental stewardship; it’s the solution.”
This newest lesson appeals to learners from all educational levels and backgrounds. It includes an easily digestible lecture that’s less than 7 minutes long and incorporates helpful animation and engaging dialogue.
Learners enrolled in the Philosophy of Free Enterprise course can test their knowledge and access thought-provoking supplemental reading material following each lesson. Upon completing the course, learners will earn a certificate of completion.
To access each lesson’s lecture, the following are available to watch on Northwood University’s YouTube channel:
A Time Traveler’s Brief History of Progress
Constitution, Rules, and Games
Prices, Knowledge, & Incentives
Knowledge, Prices & Incentives
The videos and Philosophy of Free Enterprise online course are possible thanks to the principal donors behind this effort: Donald S. Gottwald, a 1988 alumnus, and his wife, Pamela. The Thomas F. and Harriet S. Oakley Family Trust also contributed support for this online course.
Donors who value liberty, the American free-enterprise system, and the creation of leaders who drive economic and social progress may consider a gift to Northwood University. Visit our giving page or contact Northwood’s advancement office at (989) 837-4356.
