Why does money exist? | Chapter 4, Book 1
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Күн бұрынThis video covers Chapter 4 - 'Of the Origin and Use of Money' of The Wealth of Nations Book 1 by Adam Smith. In this chapter, Adam Smith talks about why we use money, its history and advantages.
pages summarized: 7
@WarrenBlakeSwartz 5 жыл бұрын
These are really amazing - thanks for doing them
@ChapterbyChapter 5 жыл бұрын
thanks!
@mariof5101 2 жыл бұрын
Thank you Pam Beasley. Your videos are great and very educational. :)
@SWASTIKB306 4 жыл бұрын
Great explanation 👍
@lionthereader 3 жыл бұрын
very helpful video series. Keep it up!
@ws-ob4wy 4 жыл бұрын
The exchange value for water is high in the desert. The use value of gold is high as it is a great thermal and electrical conductor.
@verandi3882 3 жыл бұрын
I didnt read the book yet so I'm not certain the book suggested such example , but if it did , you must consider that the book was written in 1776 before the first circuit being invented in 1800 by alessandro volta , so it is possible to find some ideas that dont match with reality simply because they are outdated .
@SK-zm8iu 4 жыл бұрын
thank you
@wayneatwood6561 4 жыл бұрын
Adam Smith gets this chapter a bit wrong. Barter wasn't a thing, debt was. Reference Debt-The First 5000 Years.
@daneilpatro2776 2 жыл бұрын
Drink water - cute
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