As I was reading Wealth of Nations, I found it interesting how self evident so many of Smith’s observations are. Then I realized it’s because I’m a 21st century American, literally born into the fruits of his intellectual labor. It’s second nature to most Americans because of the foundations he laid.
Bless you and I hope you teach thousands to educate thousands across this formerly great country and the world as the marxist objections to his facts have now historically been proven to be wrong and in their defeat the marxists are slowly removing their educational opposition.
In my 2016 book Wolves in Sheep's Clothing [Amazon] I discuss Adam Smith at length. Oh how interesting his greatest work came out in 1776 the year we declared independence from England. What does that say? And look, Ben Franklin contributed to one of the chapters in Smith's Wealth of Nations.
Adam Smith was really espousing the morality and the work ethic of the Scottish Presbyterianism. It shines very clearly through Smith’s philosophy. I would add that James Watt, whose invention of the condensing steam engine, was a contemporary of Adam Smith at Glasgow University. He and Smith changed the world, and really created the basis for the Industrial Revolution. Watt’s invention was the result of a brilliant mind being allowed to roam freely in the field of engineering. That was the spirit of The Enlightenment, which spread to America.
No. Smith’s theories were only a means to an end. He would be absolutely awestruck at the bounty of regular American life in 2024. The economic hardships of the present are much less severe than what he observed in 1776.
@@BobDingus-bh3pd People in America are mindless consumers, obesity and opioid crisis, increasing homelessness, constant war, big tech companies spying on consumers. Yeah Adam Smith would be horrified.
Adam Smith's Wealth of Nations should be understood in context of Theory of Moral Sentiments . In the context of his time , he detested vast wealth inequality in Glasgow , with rich tobacco , lumber and cotton merchants , while there was massive urban poverty . Smith was NOT advocating for Lassie Faire economics . Mark Skousen kind of understands , but he never comes right out and says it . With vast wealth inequality and poverty , Adam Smith was actually advocating that every person , regardless of their own wealth , should be able to participate in a free market economy . Also , as Micheal Hudson points out , like all Classical Economists , Smith made the clear distinction between using capital to create wealth ( goods ) and using wealth to exploit other people . . IMO Adam Smith was promoting global trade , because at the time , only land owners in Britain could vote or be Parliamentarians. As food staples made by the Baker and Brewer came from grains , grown on Britain's agricultural land , Parliamentarians could control the price of grains grown on their land . .
Go to the Adam Smith Institute in Kirkcaldy, Scotland, which is where Smith came from. On the door is a bronze plaque which says it all, “Opened by Andrew Carnegie on ---- in honour of Adam Smith, Kirkcaldy’s greatest son”. Sorry, but I don’t recall the date on the plaque. The great Carnegie came from a town close to Kirkcaldy. Is there something in the water there which creates geniuses?
"Labor was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labor, that all wealth of the world was originally purchased." --- Adam Smith “It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.” ― Adam Smith Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.” ― Adam Smith Adam Smith was first and foremost a moral philosopher. He would be aghast to see his "An Inquiry into the Nature and Causes of the Wealth of Nations" hacked in half and his warnings of *_unrestrained_* capitalism disregarded. He understood the workings of markets, but he understood just as well the negative aspects of human nature when certain types gain an advantage.
Appreciated Mark Skousen's talk, but he doesn't do justice to "The Theory of Moral Sentiments", which is the thought that supports Wealth of Nations. Further, Smith was revising Moral Sentiments into his later years.
the fact that this man structured the american society shows how american trading interaction and moral business transaction was unavailable which makes me think of how you guys coexist peacefully before him🤣🤣 the more i learn the more i see how we were miseducated
Comparing what Adam Smith did to Economics with what Darwin did to Biology is not a compliment to Smith. Darwin’s theory died more than 50 years ago. Neo-Darwinism has been recognized by top evolutionists as dead for the last 30 years. Darwin’s theory just does not have the explanatory power necessary to explain the complexity of life. Yes, it may take another 30 years for the latest evolutionary theories to replace what the populace has been duped into thinking is accepted fact, but you don’t have to keep promulgating Darwin as having advanced science.
Restrict government back into to it's Constitutional boundaries. Today we are using almost nothing from the original constitution. Can you think of anything we do today that is in harmony with the Founders intentions for freedom and liberty?? No because we never have remembered that freedoms require personal responsibility and local autonomy.
By allowing the market to be free with the government's role as punishing force, fraud, and theft. In other words allow people to interact peacefully and voluntarily and punish any acts of coercion.
![[Gegagedigedagedago] NEW Help Gegagedigedagedago Nugget escape from Nikocado Avocado Challenge](http://i.ytimg.com/vi/hJWnwRC2Fz8/mqdefault.jpg)
As I was reading Wealth of Nations, I found it interesting how self evident so many of Smith’s observations are. Then I realized it’s because I’m a 21st century American, literally born into the fruits of his intellectual labor. It’s second nature to most Americans because of the foundations he laid.
Bless you and I hope you teach thousands to educate thousands across this formerly great country and the world as the marxist objections to his facts have now historically been proven to be wrong and in their defeat the marxists are slowly removing their educational opposition.
Indeed....and thank you for your presentation.
Mark Skousen is the best. If you haven't read his "Big Three In Economics", I strongly commend it to you.
Well presented...thank you.
In my 2016 book Wolves in Sheep's Clothing [Amazon] I discuss Adam Smith at length. Oh how interesting his greatest work came out in 1776 the year we declared independence from England. What does that say? And look, Ben Franklin contributed to one of the chapters in Smith's Wealth of Nations.
Adam Smith was really espousing the morality and the work ethic of the Scottish Presbyterianism. It shines very clearly through Smith’s philosophy. I would add that James Watt, whose invention of the condensing steam engine, was a contemporary of Adam Smith at Glasgow University. He and Smith changed the world, and really created the basis for the Industrial Revolution. Watt’s invention was the result of a brilliant mind being allowed to roam freely in the field of engineering. That was the spirit of The Enlightenment, which spread to America.
Adam Smith (1723-1790); slide has his death as 1970
Adam Smith was opposed to corporate power, our society would be abhorrent to Smith today.
No. Smith’s theories were only a means to an end. He would be absolutely awestruck at the bounty of regular American life in 2024. The economic hardships of the present are much less severe than what he observed in 1776.
@@BobDingus-bh3pd People in America are mindless consumers, obesity and opioid crisis, increasing homelessness, constant war, big tech companies spying on consumers. Yeah Adam Smith would be horrified.
Many successes have been built on trust and sustained thru same. Many sucesses have been built on deceit, but rarely sustain thru same.
Adam Smith's Wealth of Nations should be understood in context of Theory of Moral Sentiments . In the context of his time , he detested vast wealth inequality in Glasgow , with rich tobacco , lumber and cotton merchants , while there was massive urban poverty .
Smith was NOT advocating for Lassie Faire economics . Mark Skousen kind of understands , but he never comes right out and says it . With vast wealth inequality and poverty , Adam Smith was actually advocating that every person , regardless of their own wealth , should be able to participate in a free market economy .
Also , as Micheal Hudson points out , like all Classical Economists , Smith made the clear distinction between using capital to create wealth ( goods ) and using wealth to exploit other people .
.
IMO Adam Smith was promoting global trade , because at the time , only land owners in Britain could vote or be Parliamentarians. As food staples made by the Baker and Brewer came from grains , grown on Britain's agricultural land , Parliamentarians could control the price of grains grown on their land .
.
I made all my children read w of n, and George gilder's , spirit of enterprise.and Franklin's autobio.
😂 Helping other people.😂 It doesn't sound like any Democrat of today, does he?❗️
Go to the Adam Smith Institute in Kirkcaldy, Scotland, which is where Smith came from. On the door is a bronze plaque which says it all, “Opened by Andrew Carnegie on ---- in honour of Adam Smith, Kirkcaldy’s greatest son”. Sorry, but I don’t recall the date on the plaque. The great Carnegie came from a town close to Kirkcaldy. Is there something in the water there which creates geniuses?
What is the date 1723 to 1970 referencing? If he lived that long he should have also written a book on nutrition.
I think that is supposed to be birth and death years of Smith, but they reversed the '7' and '9.' I'm pretty sure it should say 1723-1790.
With the exception of David Ricardo's work (on comparative advantage), all modern economics is just a collection of footnotes to "Wealth of Nations".
How do I see the rest of the lecture?
He is a genuis so is is marx
"Labor was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labor, that all wealth of the world was originally purchased." --- Adam Smith
“It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.” ― Adam Smith
Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.”
― Adam Smith
Adam Smith was first and foremost a moral philosopher. He would be aghast to see his "An Inquiry into the Nature and Causes of the Wealth of Nations" hacked in half and his warnings of *_unrestrained_* capitalism disregarded. He understood the workings of markets, but he understood just as well the negative aspects of human nature when certain types gain an advantage.
Appreciated Mark Skousen's talk, but he doesn't do justice to "The Theory of Moral Sentiments", which is the thought that supports Wealth of Nations. Further, Smith was revising Moral Sentiments into his later years.
Wow! Adam Smith died in 1970, at the venerable age of 247!
👍👏
Who is John Galt?
the fact that this man structured the american society shows how american trading interaction and moral business transaction was unavailable which makes me think of how you guys coexist peacefully before him🤣🤣 the more i learn the more i see how we were miseducated
Thought it was Bill O Reilly for a moment
Cherry-picked readings from a redacted version. I doubt he talks about the warnings Adam Smith made about hording, rent seekers or excess profits.
Comparing what Adam Smith did to Economics with what Darwin did to Biology is not a compliment to Smith. Darwin’s theory died more than 50 years ago. Neo-Darwinism has been recognized by top evolutionists as dead for the last 30 years. Darwin’s theory just does not have the explanatory power necessary to explain the complexity of life.
Yes, it may take another 30 years for the latest evolutionary theories to replace what the populace has been duped into thinking is accepted fact, but you don’t have to keep promulgating Darwin as having advanced science.
But how do we get the government to force the free market to work?
lol !!!
Restrict government back into to it's Constitutional boundaries. Today we are using almost nothing from the original constitution. Can you think of anything we do today that is in harmony with the Founders intentions for freedom and liberty?? No because we never have remembered that freedoms require personal responsibility and local autonomy.
By allowing the market to be free with the government's role as punishing force, fraud, and theft. In other words allow people to interact peacefully and voluntarily and punish any acts of coercion.
Mark up there looking he was just hit by a smooth criminal. Like he is about to ask Annie if she is ok.
😂Deception now it sounds more like a democrat😂
such embarrassing scholarship. The guy has not read anything that Smith scholars produce and falls for the ASP!
Mind explaining?
I bet this dude only speaks english
It's tough hearing this talk when Darwin was discredited and we live on Flat earth (No such thing as gravity, so Newton was wrong too).
Kkll