it is not the benevolence from the butcher,the brewer,or baker that we expect our dinner but from their own regard to their own interest.we address ourselves not to their humanity but to their self love. Adam smith.
Coming from a communist system, I'm so blessed to live in a free market in which a bad customer service may run someone out of business just by word-of-mouth, let alone by internet sharing, whereas in my youth, that was not penalized since the only sellers were government employees paid by hour and with no incentives or possibility to bring more products (usually food was scarce), or behave like someone with genuine interest at heart for the buyer. This video was a great lesson on Adam Smith. Thank you!
The invisible hand presumes moral action. That is the basis of Adam Smith's use of the term. And he does not make it the most important message of WofN as we have made it out to be.
How does "Invisible Hand" explains bailouts? If corporations make profit they get rich. If corporations collapse taxpayers bail them out and they still getting rich.
it is not the benevolence from the butcher,the brewer,or baker that we expect our dinner but from their own regard to their own interest.we address ourselves not to their humanity but to their self love. Adam smith.
Best video to understand this topic!!
The invisble hand is one of the hands that can work, but by no means the only hand that has to exist.
Coming from a communist system, I'm so blessed to live in a free market in which a bad customer service may run someone out of business just by word-of-mouth, let alone by internet sharing, whereas in my youth, that was not penalized since the only sellers were government employees paid by hour and with no incentives or possibility to bring more products (usually food was scarce), or behave like someone with genuine interest at heart for the buyer. This video was a great lesson on Adam Smith. Thank you!
So helpful for my econ class :)
Thank you! This is exactly what I needed. :)
A free market is one of the most powerful forces on earth
Well done on the simplicity of your message
I love Adams Smith father of Economy
What about the idea of resources by Adam smith. I would like to know more of it
Thanks. It's a nice video.
Excellent!
The invisible hand presumes moral action. That is the basis of Adam Smith's use of the term. And he does not make it the most important message of WofN as we have made it out to be.
Great video
Thanks for the video. Very well done
very nice
How does "Invisible Hand" explains bailouts?
If corporations make profit they get rich.
If corporations collapse taxpayers bail them out and they still getting rich.