Capitalism

Описание: What do pins have to do with the Division of Labor? Why does the Marketplace have a hand, and why is it invisible? Did Adam Smith's 1776 study "The Wealth of Nations" supply or demand? Herein you'll discover the foundations of Capitalism with the who, what, why, when and how of Adam Smith's observations and theories of Capitalism found in his 1776 masterpiece, "The Wealth of Nations": the Law of Supply and Demand, the Invisible Hand of the Marketplace, the Division of Labor and Economic Progress, and his classic example illustrating this, the Pin Factory. Plus the differences between Natural and Market Cost, Price, and Wages, all leading to economic self-regulation and without government interference---except with monopolies and cartels. Also luxury vs. necessity, Self-Interest and Economic Investment, and the effect of rising wages on population growth and economic progress.

Chapters
00:00 Introduction
01:37 Adam Smith’s "The Wealth of Nations"
02:31 Economic Self-Regulation
03:00 The Laws of Supply and Demand
04:17 The Invisible Hand of the Marketplace
04:36 Economic Progress and the Division of Labor
05:21 The Pin Factory example
06:58 Cost, Price, Luxury and Affordable Necessity
07:08 Self-Interest and Economic Investment
08:00 Wages, Population Growth, and Economic Progress
09:55 Smithian Economic Growth
10:31 Monopolies, Cartels, and Public Utilities
11:11 Conclusion
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🎼 Music in this video: ⤵️
🎹 Background Music: Richard Wagner Prelude to «Lohengrin», Simon Rattle    • Richard Wagner: Prelude to «Lohengrin», Si...  
🎺Introduction Music: It's Been A Long Long Time (Kiss Me Once) Trumpet Solo By Redsal    • It's Been A Long Long Time (Kiss Me Once) ...  
🎸 End Title Music: We'll meet again (without choir) (karaoke) Vera Lynn    • Видео  
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