Reason.tv: Adam Smith; The Invisible Hand

By the Left Coast Rebel

From Reason.tv:

Why are some countries wealthy while other nations are poor? Prof. James Otteson, using the ideas of Adam Smith, explains how the division of labor is a necessary and crucial element of wealthy nations. Additionally, Otteson explains Smith's idea of the invisible hand, which explains how human beings acting to satisfy their own self interest often unintentionally benefit others.



Related: Adam Smith Institute

1 comment:

  1. Interesting. A slightly different slant.

    http://rationalnationusa.blogspot.com/2011/08/advocates-of-capitalism-and-rational.html

    ReplyDelete

Commenting here is a privilege, not a right. Comments that contain cursing or insults and those failing to add to the discussion will be summarily deleted.