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POLITICAL THEORY – Adam Smith

The School of Life



Adam Smith was no uncritical apologist for capitalism: he wanted to understand how capitalism could be both fruitful and good.
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49 thoughts on “POLITICAL THEORY – Adam Smith”

  2. to make nations and people happier lol .your only science was trying to change cupper to gold. you saw nothing but tried it for hundreds years and when u saw the real gold killed all continentals aborgins .you re greedy, hard shell and brutal and a bad liar. all these were for nations and people happiness or on the first ıraq war you service all around the world a ducks photo in oil. what a pitty sweety duck. and tens millions died in middle east.

  7. Specialization greatly increases productivity and material wealth but on the other side of this coin lies alienation from the task at hand as the scholar Karl Marx noticed most famously but even Smith acknowledged. I suppose it is not so bad that robots take over the most mind-numbing specialized tasks if it means more room for meaningful work by humans.

  9. It sounds like Adam Smith grossly overestimated the intelligence of the average consumer and similarly underestimated man's capacity for sadism.

  10. 3 Tends to be very closely related to Rome's early and middle republic. The rich didn't display their wealth so openly, it was looked down upon by the other rich. They dated the year by who was consul, not years from a certain event. Only later did the display great wealth openly was socially "acceptable" and becoming a governor of a province was seen as an opportunity to just make money, honor be damned.

  11. Does anybody have a quote reference to the part where they talk about consumer education? I'd like to see smith's exact wording on that topic

  12. What?! Kirkcaldy isn’t in Edinburgh! It’s across the river forth.. and the way you pronounced it was just dead wrong.. yeah I’m from Kirkcaldy.. sadly! Fucking shitstain of a town..

  14. Shame that he subscribed to labour theory of value (LTV)… that one mistake… catastrophic… We were rewarded for this mistake with Soviet Russia and Marx. LTV is the bad idea that never dies.

  20. the ideas promoted about adam smith by the government in schools across america are false, there is no invisible hand guiding the industrial revolution and distribution of wealth its a fabrication of lies to create a culture with in the american borders to sell text books and create economic gossip, it has no real value, pavlaws law is the guiding light behind economic distribution of resources not the invisible hand, there is nothing invisible about human need and the need for relief from the deadly and cruel elements they are as visible as visible is ever going to get, america does not have a capitalist government it is completely communist 100 % with endless false propaganda promoted by the american media, this is proper economic principle, this is how it works folks listen up and stop acting stupid, its not capitalism, 20 bananas are distributed to six (hungry) people like this, five banana to two people 10 yellow bananas remain three bananas to two people four bananas remain two banana's to two people no bananas remain, this simple distribution scheme proves how american capitalism really works, the two people at the far end of this are left hungry only having two bananas and five starving kids, this creates socialism because now the government must step up and provide more free bananas this is how it works if any one lays some jibber jabber wordy whatever at you they are attempting to mislead you, this is really how it works it s this simple, false capitalism or false economy creates the welfare state, the same distribution scheme could be exercised on monkeys in africa with the same results, it creates in fighting and tail biting tail pulling and and name calling, mad militant monkeys and tired walmart workers, the government is doing this purpose and thats to create a so called prison planet or planet of the apes, this is proper economic principles mixed with the deviant military industrial complex and christian churches desire for immorality approaching a sodom and gomorah type culture and the church is in up to thier eye balls you can be certain of that

  24. Interesting but with number 3. Taxing the rich is a much more efficient way of getting the money and would be much easier to organise where it is spent. It also assumes that rich people can only get their popularity and fulfil their vanity by funding schools etc. But the rich don't need to do that.

  25. Wow, a far more nuanced and deep look into Adam Smith and Capitalism than I've ever heard before. After watching your vid on Marx, it is almost like Capitalism (as practiced) is as far from the ideals of Smith as Communism (as practiced) is from the ideals of Marx.

  30. The rich exploit the workers and we give them a medal of honour? Now i know why even the neoliberals of Chicago dislike Adam Smith so much. He was a asshole in every sense of this word.

  31. All ofthis sounded OK until the end. To say it is up to consumers to be educated begs to wonder why isn’t the model creating the best to be empoweered, to educate quality, in the first place? Why waste resourcxes to make shit? Why do we have a odel that even promotes it? And then you want to say it is up to comsumers?

    Why do people want to be called consumers? 

    http://wiki.p2pfoundation.net/BUX

  33. There is nothing wrong with today's capitalism. By the way, it is these ideas of Adam along with others that created today's civilised society. This is what led to modern capitalisma dnhe is a capitalist

  36. Sorry to burst your bubble Libertarians, Adam Smith was anything but that. he was pro equal competition and for that you have to have rule of law with teeth to prevent abuse and corruption. without rules of the road per say you have no peace and balance and another little but most important thing called Democracy. when you don't have democracy you are building on weak
    traunches, when it fails you will ultimately have full on brain drain, wealth fleeing, and human capital human potential fleeing as well, with the added component of massive violent effects or plain all out violent revolutions.

  43. Adam Smith's ideas about how to treat the rich could easily be applied to Donald Trump if the democratic establishment and mainstream media were smart. Trump is so vain and desperate to be liked all they would have to do is incentivize him to do what they want by showering him with public praise when he did something that was legitimately good. He is so dumb and has no actual ideas or principles, you could essentially manipulate him to do whatever you want by just playing to his ego. Of course, that would take actual political savvy and cunning, of which the Democrats seem to have none.

  46. Capitalism comes from observation to natural order of economic transactions.. it's hard to beat that.. rejecting it totally is like debating with our own gene about our biology, ?

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