POLITICAL THEORY - Adam Smith
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Adam Smith was no uncritical apologist for capitalism: he wanted to understand how capitalism could be both fruitful and good. If you like our films take a look at our shop (we ship worldwide): http://www.theschooloflife.com/shop/all/ SUBSCRIBE to our channel for new films every week: http://tinyurl.com/o28mut7 Brought to you by http://www.theschooloflife.com Produced in collaboration with Mike Booth http://www.YouTube.com/SomeGreyBloke
Comments
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even after 300 yrs Smith shines as Sun in economic thinking ! while left and others are quick to blame gaming, he on the other hand provides insights to use our follies to constructive ends :-)
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So if product A costs $5 but is bad for the environment, and product B costs $10 but is not harmful to the environment, and both of these products are almost exactly the same but one is made under different circumstances causing it to be cheaper but more harmful to the environment, is it not better to make product A not exist rather than trust that people buy the more expensive one rather than the cheap one merely for the environmental benefits? Would a poor person really think "This product will hurt everybody a very very tiny bit but it benefits me greatly because of the cheap price"?
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He would absolutely hate modern Scotland.
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Subtitles are white written on white back ground. Doesn't make any sense.
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Evilcorp? Mr. Robot!
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smith to sen
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Hah, Trump.
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Neither terrorist fool north meat pain toxic
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Who else is here from their £20 note
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These Philosophy videos are f***ing blowing my mind. I love them.
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I'm very grateful to this channel. how revealing that in US economics courses, we were taught only that Smith subscribed to unfettered corporate activity, and any restrictions placed upon them might upset the economy. Glad yo learn Smiths philosophy was do much richer.
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awesome channel
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I seriously came here because I thought the school of life was borderline communist and I thought they were gonna rip on Smith. Glad I was stupidly wrong! This was a great video and probably the best explanation of capitalism out there.
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Free-market ftw
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Hey emm excuse me school of life guy about one week ago after spending many hours I made some Greek subtitles for this video and i still cant see them as an option can you reply please it would be great :)
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i have a question? why was an illustration of Tommaso Campanella's City of the sun showed at 3:52? That is a Utopian City that did not govern nor act economicly like anything Smith would have explained in his political theories and ideas of the market mechanisms?
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This is what I wrote 7 months ago:
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I think that if we would live in a libertarian society (wether its ancap or minarchist) the rich could be easily conditioned to be generous & donate massive amounts to good causes. Currently the rich buy things like faberge eggs as a wealth symbol & for respect. What is the trade by donating to causes that for example support the sick, support poor students, roads, security, etc in a libertarian civilization? The same thing, respect & wealth symbol, if these things depended on voluntarily donations instead of forced taxations. If each of these causes had their top list of donors the rich would probably even compete with each other to be on top of that list. Ferrari's wouldn't even get you laid in such society, showing how much you donated to a cause would.
This is why I think socialism isn't really social, I would actually describe myself as a (real) socialist libertarian capitalist. First let the rich do their thing, let austrian economics create a bunch of resources, than ask for donations. Currently our society conditions us to be so envious & spiteful, I can imagine a society which conditions us to be generous, where there would be even more welfare for the poor without a welfare state. The churches sort of did this in the past, rich people used to donate tons to them.
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I am adam smith without even reading his stuff. Now as a response to this video, why should the governments hand out these awards? Voluntary foundations/cooperations should. If there are 2 cooperations that would stand for paying college tuition for poor students, than these 2 cooperations would have to compete with each other. Putting it in the hands of the government will cause poor distribution of these resources. -
Amazing how this references Trump talking about how to treat the rich lolz
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+The School of Life You should create a presentation on Murray Rothbard, if you really want viewers to understand capitalism.
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Adam Smith was a Rothschild bitch. Fuck em all.
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