The Real Adam Smith: A Personal Exploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world.
Morality and Markets is the first hour, which takes an intriguing look at Smith, his background and the evolution of his ideas, both economic and ethical. Norberg travels Europe to locales where Smith was born, educated and spent his life teaching, writing and advocating his revolutionary ideas on markets and human morality.
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Chapters
0:00 Introduction
2:16 Smith’s Early Years
14:58 Morality & Impartial Spectator
19:10 Theory of Moral Sentiments
24:47 Mr. Smith Goes to Paris
29:45 Division of Labor
33:34 Self-Interest & Invisible Hand
37:24 Natural Liberty
42:33 Monopolies & the US Colonies
50:19 Wealth of Nations
53:43 Conclusion
Market Liberty,Free Market system
Let’s compare and contrast the strengths and Weakness of the proponents of the theories
Why is that there is no gap, chance of improvement or critique on Smith’s work? I motivate everyone to read his work with open mind and without thinking before hand that he is great philosopher who can’t be wrong about any thing. Only then your mind will start seeing the underlying problems in his theories.
The motto of the State of Utah (one of the United States) is industry.
Is it any wonder why Utah survives against all difficulty?
Their emblem is a beehive
Far from being the “real Adam Smith”, this a-contextual, cherry-picked, myopic oversimplification of Smith’s fatally incomplete, now provincial ideas about ‘economics’ and markets is nothing but a heavily biased cheerleading session for the worst of Smith’s ideas.
Case in point: let’s see how long this post lasts — if ” ‘Free’ to Choose Network” was a real follower of Smith’s out-of-date ideas, why wouldn’t they let the ‘free market’ have ‘free’ reign?Or is Homo economicus as much a fiction as FTCN’s professed allegiance to Smith?