The Real Adam Smith: Ideas That Changed The World

  • Published 9 months ago
  • Not Rated

Adam Smith is widely considered the “father of economics”. It is his ideas that helped us build the economy we have today. What is interesting is that he lived in the 18th century, but his ideas were way more modern and futuristic.

Smith wrote what many consider the bible of capitalism. His book “The Wealth of Nations” explains deeply and in details how the first system of political economy should look like.

The fun thing is that his ideas were actually more socialistic than capitalism if you think about it. For example, Smith believed that the economy would benefit more if more wealth was distributed to the common people.

What we have today is totally the opposite, with 1% of the population owning more than 90% of the wealth.

This documentary takes a look at all of his economy ideas, including his theory of compensating wage differentials. He saw no role for government in economic life, but what happened is governments used his ideas and twisted them to suit the government.

When you look at his ideas, you need to understand that he was first and foremost a moral philosopher, and than everything else.

From Around the Web

Related Videos

Economics
money and power
youtube icon
01:31:12

Can you be happy if you do not have money and power? Or let’s put it otherwise, how much money you need in order to be happy? How much is enough? Will you be happy if you h...

  • 368
  • 3 weeks ago
  • 5.3(3)
Economics
reid hoffman linkedin
youtube icon
59:19

In the past several years, Linkedin has become the main source for finding jobs. When it was introduced, the social network was imagined as “business side of Facebook”. ...

  • 509
  • 3 months ago
  • Not Rated

This short documentary shows you how hard it is to create a documentary regarding fair trade. It is a subject that is popular, but also very limited in terms what is out ther...

  • 499
  • 4 months ago
  • Not Rated
Short
stock market 1
youtube icon
03:34

We hear the word “stocks” on a daily basis. But what are stocks? Financial and economy experts understand them very well. But not all of us is an expert in finance. Som...

  • 783
  • 5 months ago
  • Not Rated
Avatar

3,827 Videos / 7,922,213 Views
Tags

Related Articles
The G20 is an acronym that stands for a group of 20. The G20 is a group of 19 countries plus the European Union, trying ...
  • 696
  • 7 months ago
Bitcoin was founded in 2009, but it didn’t really became popular up until 2013. Nowadays, Bitcoin is more valuable tha...
  • 1,920
  • 10 months ago
Fort Knox was originally opened in 1937 as a depository for gold. Nowadays, the building is one of the most secured plac...
  • 5,475
  • 1 year ago
Chocolate was first invented by the Aztecs, who made chocolate from ground cacao seeds. They added seasonings so that th...
  • 2,338
  • 1 year ago