Galileo and the theory of value

Course Outline

Galileo and the theory of value

Instructor: Tyler Cowen, George Mason University

Did you know that Galileo — yes, that Galileo — made an important contribution to early economic thought? He was one of the first to clearly appeal to relative scarcity as the solution to an old problem known as the “Diamond-Water Paradox.”

Teacher Resources



Verified Available Languages

Turn captions on or off:

  1. If captions are available the (CC) icon will be visible on the player.
  2. To turn captions on, tap (CC).
  3. To turn captions off, tap (CC) again.

Select caption language: 

  1. Click the settings icon (⚙) at the bottom of the video screen.
  2. Click Subtitles/CC.
  3. Select a language.


Contribute Translations!

Join the team and help us provide world-class economics education to everyone, everywhere for free! You can also reach out to us at for more info.

Submit subtitles




We aim to make our content accessible to users around the world with varying needs and circumstances.

Currently we provide:

Are we missing something? Please let us know at