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.
A supply chain is a network of individuals and companies who are involved in a creating a product and delivering it to the customer.It begins with the sourcing of raw materials, wh...
A growing debt crisis, dwindling forex reserves and soaring inflation have pushed Pakistan to the brink of an economic disaster.These were some of the factors which contributed to ...
Sri Lanka, formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an island country in South Asia. It lies in the Indian Ocean, southwest of the...
Despite separating from Somalia over 20 years ago, the state of Somaliland is still unrecognized by the rest of the world. Life here is hard.The popular series Dicing with Death br...
© 180Vita Ltd.·All rights reserved
