The Real Adam Smith: Morality and Markets - Full Video

It seems to me, that we are rolling back to the societies that Adam Smith criticized. Monopolies are becoming too big and powerful to fail. The government protects them from their poor choices. There's barriers being placed to protect them from external competition at the detriment of free market trade. The governments are partnering with these monopolies to opress the poor in their own countries and in poorer nations. The strongest nations much like the British empire are pouring armies in weaker nations in a zero sum competition to own all the precious resources in the world. The familiar consequences of this are starting to show. Conflicts, rebellion and revolutions are picking up steam all over. And we're ever closer to the eruption of yet another world war.

A very good introduction to Adam Smith.
Is the modern free market volunteer? I think not. If it were really voluntary, you would not have to force participation at gun point. Will we ever have true free markets?
Life, as described in books (of philosophy or literature) can be made to turn out the right way.
The "invisible hand" is a philosophical fiction. How do I know that? Well, it is invisible.
Free competition and free trade is not self enforcing. It does not, on its own, punish the cheaters. Government steps in at this point. Government is made up of people, and people always have favorites, and Government will tend to favor some over others.

🎻🏛♨️ Church do not destroy the law of gravity..neither give power planet ..stand in space by nothing..Church give you power go ahead...Church if today you have power go ahead..why dont let thoughts of fear et fear of tales to your pets et send them spread the Gospel to all reptiles long walk in two legs ..Church if yesterday you didnt have a Pourpus but today he flows by his own ..why you dont let your day fill with light et light spread in the atmosphere!..

Adam smith is a lier he stole someone else work and claimed it for him self

NorQuest College : Social study 30-2

Perhaps this man's work has done more for humanity (in the last 250 years at least) than any other human being?

The invisible hand: The antidote to Marxism.

Excellent work.

Great Work.

What a great man.

Now imagine a person that wants to get a job and he/she decides that in order to do so they have to poison the employer and the management. From low to high... A person ate poop to get a job, that's how disrespectful the whole thing was... The long story short, drink Brandy to come back to your senses after spice poisoning.

Everyone get a wine for a snack? Ever seen anyone eat vegetables for snack? Assuming we all had cheese for lunch we can all drink wine lighthearted. So a person not buying a cheese looks suspicious, unless you live in China where asians are lactose intolerant, so they choose something else. A person counting usually has apples and decides that apple is the medium for things, so the price of apples decides the price of cheese, both are equally popular. Then Government wants to make sure that both have an integrity. When Government quits, then cheese and apples are not there, because neither the cheese maker not the apple seller want to do their job. A salesman dilemma is how to not deal with people, which means cut the trees, cause he/she still wants to sell and it happens that their job is not rewarding enough. So the community collects money to give to the saleman to sell both apples and cheese to save money, then Government says one has nothing to do with the other and offers a credit to open a store to the most loyal salesman. When this is missing, you have UK. What's unfair is unfair. Basically moving on happens to be unlawful, people can't relate to it, since they are disconnected from production point, and people become the enemy of the maker. The third one is the winner for no reason, and it just happens that too many things are for not reason and lottery bet like, so the better either wins or not. Then a businessman invests in the right person and wins by educating people why his production is better, so you have stock market to make sure the product meets all the regulations. In any case, tiredness was so Brandy, so politicians not having Brandy are not liberals they are losers.

Ever seen an empathetic person? Your beliefs matter to Government! It is time to not play games, or else we are paying dearly for it, whether it is for plane going down, earthquake, cause you provided the wrong data or importing the wrong types of foods and addition to foods. We are voting your beliefs down.

Users create the data that drives Facebook's Google's respective algorithms ergo its value. Therefore, users should share in the profit. 👍🇺🇸

A sequel to Adam Smith: What the global economy must do to maintain free trade principles - regulate and reduce the population, regulate polluting industries, regulate the exploitation of natural resources, regulate a balanced trade between nations in order to achieve fair employment. ie You cannot have unrestrained growth at the expense of the environment.

A well researched documentary, please produce more about other classics.

And then comes China......

If you know anything about complex systems, they're extremely difficult to predict, thus these systems (humans, climate, economy, disease) have a natural way to progress, optimize or heal. Considering the millions of inputs of an economy, to think central planning could ever optimize functionality is beyond ridiculous. The invisible hand, like herd immunity, is an optimization of the system via common sense logic, allowing for the common denominator to give solution. Smith, like most great thinkers, had a broad knowledge (like Einstein or da Vincci) that enabled him to see connections that produced common-sense solutions. As Einstein stated, solution is simple no simpler.

Excellent piece. Easily among the very best on this topic to be found anywhere.

Such a nice work of documentations. Thank you from Indonesia!

Bezos is worth 3 trillion $ is this moral?

Thanks for this. Always love understanding the man behind the idea.

what a banger of a vid

how would Adam Smith propose a solution to a trade partner like china?

Unfortunately he overestimated the intelligence of humans

I met and learned a lot with a gentleman, David Braatz, member of the Libertarian Party. I love the saying "Give me freedom or give me death".

Finals someone told the truth about British atrocities against India in the name of East India Company.

Very well done ! Sharp dresser!

Free market will never be a fair system that will help the masses , add religion to this mix and you will get a myopic selfish state in which the few will amass most of the wealth and power ..
Just look at the current state of many countries now amid the Covid 19 pandemic...
It’s a frail system

In a free market, morality is transactional. You give a fair deal, because you want that person's business TOMORROW and the NEXT day and the NEXT... You're nicer than you have to be, because it's competitive to do so. Very simple.


It goes farther than that, though, because it's ALSO good for business to be SEEN doing good, charitable works. The payoff is status. Status is good for business!

Adam smith taught the world that brilliant idea 'invisible hand' which is only choice in face of reality.Hats off

4 and a half billion years is unscientific and a hoax believed by non critical thinkers. 6000 years is very close to reality. Bishop Usher was right.

Host: How we gonna start and end every shot in this documentary?
Director: Why don't you walk in frame and then walk out of frame after you said your lines?
Host: Say no more.

Great philosopher even today. His ideal capitalist market is not remembered. Gave his wealth to charity and tried to share the wealth of Nations with its population.

Genius

A fantastic video! Great going!

What a Beautiful mind. This Video is fascinating and very interesting. thank you for this great job.

Thomas Jefferson The AUTHOR of Our CONSTITUTION wrote Frequently about ADAM SMITH,

All seemingly selfless acts are to serve first and foremost, the giver’s own satisfaction to give.
We will have built the best possible world, if we allow everyone to freely and honestly, to serve his legitimate self-interests.
The single biggest reason to the darkness of this world, is dishonesty, and the coercion that enforces dishonesty.

Whatever moral he may have had in his modern conception of economics it got lost along the way, by now we already have the proof that capitalism is not driven by moral but by greed and it's final objective is to acumulate not distribute, the only thing it trickles down is shit, and the free market ended up being just the means by which the money acumulators subdue the society, anything else they may otherwise say is just bs to mislead people.

The problem is big industry dominates economics and creates an impossible barrier to entry, the general population cannot participate and we depend on big industry's "tricle down" for our own livelihoods.

Imagine you're merchant at a market, selling and some kid on the way home from school starts staring at you while writing stuff down to write about economics.

Man of system = socialism.

While I am not big enough to comment on Adam Smith the great, I believe that work Arthasastra by Chanakya is equally good.