#8. Economic theory for the Masters and Intersectoral Balances | Mikhail Velichko

8th video in course “Educational Project: NOOSPHERE“ by Mikhail Velichko; 7th of 8 lectures for students of Baltic State University 0:26 — Today we are talking about the economy 2:40 — We live in conditions where everything we use is a product of collective labour... 4:30 — What should the economy produce in order to ensure the well-being of society? 6:48 — Input-output balance equation 8:57 — Where do these products go? 11:00 — When solving the input-output balance equation, we consider technologies that consume products in the physical form... 12:44 — The fact that the volume of supplies is proportional to the output of production by the sectors-consumers of our products — this enables us to write down the following equation... 17:00 — What does this equation enable you to do? 24:53 — Necessity to switch to financial accounting using the example of the aviation sector 27:36 — If we switch to financial accounting of products, what then? 39:52 — What are taxes?