On its own this video is absolute garbage. Anyone with a modest grasp of economics will cringe at Leonard's unsatisfactory analysis.
Pros: Great production value, compelling presentation, and well known outside economics department (i.e. allows students to reach outside of their discipline while on campus).
Cons: Overrun with economic fallacies and poor analysis.
Recommended use: This video could be used to teach students about rhetoric, and how to write about economic issues. Debunking this video provides almost endless possibilities for student op-eds. I wouldn't recommend using this in a principles class, but in an upper division class with a talented lecturer, it could be torn apart in class.