Do the rich get a break at tax time—or do they pay more than their share? Who benefits and who suffers when sweatshops are allowed to operate? Are gas prices as outrageous as everyone thinks? This compilation of ABC News stories features 20/20 anchor John Stossel, who uses real-world situations to address provocative macroeconomic questions. In a straightforward style well-known to viewers of 20/20, Stossel covers a wide range of concepts and overturns many common assumptions. A viewable/printable instructor’s guide is available online.

The episodes are:

·        Is Life Getting Worse? Income Comparisons across Time Periods: Comparing the America of 100 years ago with the present, this segment explores issues of quality of life and public safety. It’s an ideal catalyst for class discussions on consumer outlook and the business environment.

·        Gas Prices: Adjusting Nominal Values for the Effect of Inflation: Pointing out the error of comparing nominal prices across time periods, this segment illustrates that gas prices, when adjusted for inflation, are lower than those experienced during most of the 20th century.

·        Laid-Off Steelworkers: Dynamic Change and Labor Productivity: Profiling the labor market in Youngstown, Ohio—where laid-off steel workers have found better, safer, higher-paying jobs—this segment addresses the concept of resource mobility.

·        Broken Windows: Expenditure Multiplier and Fiscal Policy: This segment uses broken windows and the glass industry as metaphors for what keeps the economy running and what can happen if government is too involved in it.

·        Stadiums: Government Spending and Jobs: Visiting the new baseball stadium built especially for the Chicago White Sox, this segment examines problems with taxpayer-funded support for private business and the use of tax money as transfer payments.

·        How Much in Taxes Do the Rich Pay? Impact of Marginal Tax Rates: Questioning the idea that America’s wealthy contribute only five percent of public revenues, this segment shows that the very richest—the top one percent—actually pay much more.

·        Are Boycotts of Sweatshop Products Helpful? International Trade, Labor Markets, and Minimum Wage: This segment looks beyond protests against “sweatshop” factories, proposing that employing workers in developing countries benefits all markets. Likewise, it submits that implementing minimum wages endangers those markets.

·        Does Outsourcing Cost American Jobs? International Trade and Employment: This segment suggests that, as jobs are sent to foreign countries, labor resources are freed up to move to more productive areas—with long-term economic benefits.

·        The Role of Freedom in Prosperity: This segment travels to an Indian state in which government planning dominates. Places characterized by less planning, including the U.S., Hong Kong, and New Zealand, are examined for contrast.

·        Economic Freedom in the U.S., India, and Hong Kong: Economic Growth and Sources of Prosperity: Comparing India and the U.S. with Hong Kong, this segment examines political barriers to innovation and how China’s “special administrative region” allows the greatest economic freedom. Interviews with economists Milton Friedman and Dinesh D’Souzah are included.

·        Eminent Domain in New Rochelle: Role of Government and Protection of Property Rights: Visiting a neighborhood in New Rochelle, New York, this segment addresses the controversial government practice of invoking eminent domain. Property rights and their uneven enforcement are discussed.

·        Is Government Too Big? Size and Growth of Government: This segment analyzes the reasons behind high and numerous taxes, examining the social and political factors within government that cause it to expand and continually require revenue.

·        Government Growth: Size and Growth of Government: Government spending has risen drastically since the 1930s. This segment explores the mid-twentieth-century expansion of government and how the trend it set in motion affects economic conditions today.

·        Pork Barrel Spending: Collective Decision-Making: The Alabama Peanut Festival and a $200-million bridge in Alaska illustrate the ability of special interests to influence government funding—sometimes for projects that benefit few people.

·        Jersey City Water Department: Markets versus Government Involvement: This segment focuses on competition and the difference between public and private enterprises. The water department in Jersey City, New Jersey—where a private company has taken over operations—provides a helpful example.

67 minutes.