Adam Smith, The Invisible Hand & The Wealth of Nations

My First Project

Category:

Education

Tags:

• adam
• capitalism
• hand
• invisible
• nations
• of
• smith
• wealth

[eamonncake]

I'll try and explain my position. You may want to work hard and make a lot of money but I don't. I would prefer to have more free time and use it to enjoy the things I love like playing music, going for walks in the country and reading. However it's not fair that I should not contribute any labour to society. Unfortuanetly in Ireland where I come from due to the stupidity of our government a week's unemployment benefit is nearly double what you'd earn working part time on minimum wage

[cpobeck]

The "invisible hand" and the 2008 bailout were two entirely different things.

[UnitedPebbles]

Japan's intent of exports are to be things of details, of miniature, since it lacks the space, materials, and labor than other countries. Yet, miraculously they do things so well in miniature that it shown in larger products such as cars and soon heavy industry products.

[UnitedPebbles]

There will always be competition, regardless if you wanted your nationalized interest to "diversify/specialize" or steer away from competitions.

I.e.: Japan national funding in electronics and then S. Korea and lastly China.

If only Japan have its wish in actually achieving better advantage in electronics, then the U.S. funding of aircraft and automobile manufacturing wouldn't suffer as bad. Ironically, the Japanese private sector of automobile industry exceed their national counter parts.

[UnitedPebbles]

Guys, in order to implement "Smithie's policy", you have to have a large influence of power in your country, like Lord Smith did. You don't want to be in that situation, where you are the manager of your country like one in a company. When you fail, your countrymen will suffer vs the traditional individual failures are bail out by another individual(s).

Singapore actually implement this policy, as well as China. I am still awaiting and counting failures as this time.

[TheEvolver311]

smith also advocated a protectionist state economic plan

[chicanokid101]

Bottom Line "The Love of money is the root of all evil" St. Timothy

[cris750]

What is this about? The circulation of capital(money)! The very thing that some of the 1 % want to hoard! The hoarding of wealth is something which has lead to the destruction of the Temple by the Babylonians(Ezekiel ch. 18 vrs 5 - 13). Adam Smith has even said taxes helps the capital(money) to circulate...this happened during the late 30's for the U.S. to recover from the GREAT DEPRESSION! Progressive tax policy will help the U.S. economy and then the global economy.

[SzlampStudios]

The wealth of nations talks about how the invisible hand is imminent in nature, and if there is low supply, equilibrium of supply and demand comes from the death of the poor.

The top 10% own 85% of the worlds wealth, but these are middle class because the top 1% own 40% of the worlds wealth.

Everyone below that is thus poor. The 2008 crash happened because the poor of the world didn't realise they were poor. Now they do, and therefore will eventually die out....the invisible hand at work.

[n5roor]

@ATG0009 why don't YOU stop the video n' try to read!

[MsBenaria]

Goste de comunicação mas acredito que a melhor forma de se comunicar é com base na cultura Humana. Precisamos de mais tradutores ...

[ATG0009]

FK!...I...CAN'T READ THAT FAST!....WHY...DON'T YOU SLOW DOWN YOUR VIDEO INPUT?