EXPLOSIVE STRAWBERRY

Adam Smith though humorous, you kind of prove his point in the end...

thats great, because i can remember him correctly, than having name like xcuotlau or jean jaquestadora

i know right

Joseph Stalin good then

GrumpyOldMan no one has thanked you in 2 years and I will. THANK YOU

@@carbinepeepoo they should make a new hunger games movie set in communist Russia, it would be very funny.

thanks bruv, needed this

"coddle the rich"

thax

He is everything but selfish. Only when he died people discovered how much he donated

I'm glad that my cynical side gets a break when I see people as good as him.

he was pretty darn racist. But it was probably because of the society he lived in and the stories he had heard. Considering how smart he was, I feel like if he actually went and experienced all the interesting things non-European societies had to offer, he would change his mind. I hope. I'll obviously never know though because homeboy is long dead.

BINGO !!! 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 , where there where rich tobacco , lumber and cotton merchants , while there was massive urban poverty . Smith was NOT advocating for Lassie Faire economics . I need to find the quote , but 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 .

Exactly. The more I listen to these school of life videos the more I hate them.

Jonas Steinberg cringe

@@gabrielonibudo5710 He's right tough :)

Probably the most underrated comment I've seen on KZfaq ever. Fucking gold man.

OjoRojo40 well, he’s not left. That’s for sure

Michael Carpenter Have you read or listened to (free on KZfaq in audio) the book by George Orwell 1984? If you have but read it a long time ago it will REALLY trip you out! 💚

There is a reason why people call the age of enlightenment the age of enlightenment because the beliefs and ideas that they developed truly enlightened the souls of the people and that's why the words and everything they say is still alive today. The world enlightenment or enlighten has the light, Europe experience the dark ages and finally accepting knowledge and how they used knowledge to brighten their dark world they decided to describe what they experienced by making a work called enlightenment. Education and knowledge is power but it can also be hope and I don't know about you I felt nothing but hope when I read the works of Adam Smith, some philosophers provide a sense of pessimism and harsh criticisms of the world but they do it in an enlightening way to spread awareness of the people hoping that someday people can see what they see and feel what they feel and find a way to address the problems of this world. People say the Age of Enlightenment is the Age of Reason I also believe it is the age of hope where a beacon of light shed to the people of Europe, regardless of the wrongs that they committed through colonialism what these Enlightenment thinkers experienced and felt were real and I feel people need to reconnect to the experience these thinkers went through today so that we can renew and restore the hope that once existed. Our education system cannot just teach they need to spread knowledge and shed a light in the minds of the people, to give a sense of hope and purpose, to be excited to learn and feel something that is so amazing after learning something that they never learned before.

economic theory??

doing an assignment on this. it's interesting.

I never knew philosophy was a subject . No school or college or university provides this discipline in my country such a shame in today's world we need philosophy more than anything 😕

+The School of Life i think i was searching educating channels with illustrations on youtube and you guys came up! You are doing a great job especially considering that you present every subject objectively. I would really like to see some scientific areas analysed too, like mathematicians and engineers :3

+The School of Life make a video about vanity! and all usual behaviour that comes with it, cheers! :)

+Alice Dourountaki this and CrashCourse.

+The School of Life Lovely Channel. Could you also make videos for many of the great Medieval Islamic and Arab Philosopher and Thinkers ? Like Ibn Rushd, Ibn Khaldun, The Muta'zilite Philosophers, Al Razi, Ibn Sina etc.

agreed

***** okay but why not teach on condensed version or just hit the main points. also I wasn't just talking about this video in particular but all the videos school of life does, none of this gets taught until college and only if you take classes in the humanities which many people don't. I think this knowledge is essential for all humans

Sanzh Bait spiritual? its about learning how to THINK, along with science. don't learn these things and you'll just be another lemming and deprive yourself of something every single human should be aware of and receive instruction in.

Sanzh Bait i agree with you but I think that philosophy and science are essential for learning how to think as appose to knowing only what to think. it should b taught in high school to all students

***** I dont agree with that, i think every human needs to receive humanities courses during their high school years, its extremely important that people know how to think as apposed to what to think.

+Tyler Durden A trip to your local library will illustrate just how little is taught in high school. Especially in the Reference section.

problem is when people have to choose between a bad job and unemployment

maybe this is because the consumers are not separate from the capitalistic economy, they are part of it. They are not just a consumer, they are also part of the production machine of businesses. Once we can truly separate the consumers from the producers, the consumers will actually have power to choose. Which means, none of the consumers should be workers, since the workers will be exploited by businesses to produce the maximum value at the cheapest price. Which probably means all the consumers should become business owners, and the workers would have to be replaced by machines, who can be exploited without guilt, at least for now. Then the consumers will actually have choosing power. whoa, I can't believe I just thought all of that! I'm gonna post this in the main comment section.

@@ranguy1379 problem? that is the entire system. you are forced to work hard annd throw away your entire life away on work so you can get food and live to see the next day? xd

@@ranguy1379 I don't think you're that far off. The problem is that isn't attainable under Modern Capitalism because it historically causes power to trickle up rather than down (see the last 40 years of U.S. domestic economic policy). In practice, when there is a strong oligarchy backed by a strong military and police state, the powerful will serve their own interests first, and won't abdicate their power unless forced to do so - eg: dying of old age. Modern Capitalism is missing a huge component of Hume's work - the need for the fostering of social-emotional development through public education, and the need for all economic and legislative decisions to be guided by compassion rather than greed. This is because the powerful use it as a means to an end, while paying lip service to the more humanistic aspects of the original theory. Modern Capitalism cannot be saved.

When companies don't pay quality salaries, how are consumers meant to buy quality products? It's pretty similar if you look at it from the other side - if consumers don't buy quality products, how are companies meant to pay quality salaries? I think both of these issues boil down largely to human greed - trying to get as much as they can from their economic power. Yes people near the bottom now have to buy cheap products to make ends meet, but if you had to reset the economy, I think you would find people buying cheaply relatively quickly in order to extent their economic power. Another important hurdle is people do not trust that companies price fairly - buying cheaper products ensures competition in the market space. Consumers need to be confident that companies are pricing fairly.

He's on the 20 pound note in the UK.

Jeff Da Maori Good to know

Alex Yandel Torres Rosado oh does it? How many countries put foreign scholars on their money?

I was unaware of his background before making this comment. In my defense there isn't an ideal of what an American should look like, it's an amalgam of people. Here in the states we often recognize those who made a significant contribution to history for the better, although adopting his philosophies is one of the biggest ways of showing that appreciations, it still would be cool to see him on a bill.

Alex Yandel Torres Rosado he was on pound notes in the UK...

Diego C marxism and capitalism both seem different ideology but if you study them thoughtfully they both are a path to materialistic and social fullfilment of a nation.

Marx himself mentioned numerous times Adam Smith was an essential influence on his philosophy, specifically Das Kapital.

Marx could only point out flaws the man didn't have any idea how to solve problems, benifit people or understand the people he pretended to want to help his ideas produce misery and death Smith seems to me to be a freind of man kind unlike marx who just hated the rich

Looks like Smith understood human nature more than Marx

@@abditus5842 Yeah right. Thats why he believed the rich dont care about money but honor and respect. He was really naive

Simon Cote Capitalism without checks and balances, or government intervention is self-destructive. Better than Smith is John Keynes, his ideology fixes Smith’s problems

@@alilalani9531 Both can be true at the same time. Ibn Khaldun, Thomas Jefferson, Charlemagne all express the importance of the relation between individuals and their society in the function of the quality of their education. There is no capitalism without the concept of value. Bernays with is work on propaganda(ideological narrative) have given rise to a vast campaign of disinformation. If you can't individually have the cognitive tool to justly appreciate the value of anything that be can exchange for money, you are subservient to the narrative you are in impose:; you are not free. If you control the currency, you control the behaviour. I'm not sure how classical economist fit supranational governing entities in their economic model or how what to do when a company is so powerful it regulates many national governments. Anyway, I'm not an economist. I appreciate your input. have a nice day.

Capitalism with educated consumers would work? How? Does it work as it is now? Is it not going to crash down? And education or programming? What is the case with the consumers today?

@@LevaISanningen Capitalism with educated consumer (not indoctrinated) would work better. The propaganda model for corporation proposed by Bernays is programming and it prove it's limitation. The education system need to be separated from the influence of corporation; the current system try to make factory worker and not fully develop individual. Capitalism as to be limited by the Universal declaration of human right, environmental consideration, the awareness of the Gini coefficient and we should have a better judicial system to sue multinational on a international level. Consumer today are indoctrinated and programmed. We are going in wrong direction. I know it's more complicated than that...Have a nice day . (We should also see what other kind of system can compensate for the weakness of the capitalism system, some socialist idea are good and need to be implemented)

Capitalism is auto-destructive even with an educated consumer base. People behave irrationally regardless of their education background.

fucking T H I S. oh my god.

because they don't like capitalism

@@kyleseageruberalles2222 and they wonder why there’s a rise in Marxism and fascism

Have u taken economics class? You would be taught about calvin cycle only when u take biology as a subject.

It is taught in secondary school economics. But most people dont choose that specialisation .they take math science and bussiness accounting.

+Neil Backus Marx had no idea what true capitalism meant. Everyone has the idea of a savage capitalism (or Laissez Faire) but true capitalism (now called "limited capitalism", don't know why) is the best system that adequates to human reality in a way that both people and wealth are well treated.

The simpletons don't read Marx or Smith.

Eric John Check out the blog post "Liberals, you must reclaim Adam Smith" by David Brin

GeneralNazort Will do. Thanks for the tip.

Eric John Indeed. I think the most important thing about Smith is that his work actually offers a basic understanding of some very common economic principles that have little to do with specific economic ideologies and more with very basic common sense, e.g. the benefits of the division of labour. I think many people think of Smith only as the figure head of free market capitalism, like you said, and they forget that Smith was actually the first person to introduce some much more basic thoughts which we know take for granted.

+Demian Haki The main problem with Smith's writings, is that certain people pick and choose the bits they think agree with their outlook. Take Margaret Thatcher for instance. She was probably the world's worst offender.

Some people are intelligent enough to speak well of bad ideas.

What's ours is yours, for a price.

Polycube That completely depends on how far ikeyB moral compass will allow him/her to go. Same here.

Ral Crux We were both doing quotes from the game Civilization Beyond Earth.

An EFFICIENT trade is a lifeline of the nation.

I always thought she said, “As Admiral Smith said...”. I thought she was referring to an Adam Smith like person of the future, as some of the “quotes” are of future philosophers.

Soon it'll be Christmas and 'Alone in the Wilderness' will be popping up of what's left of PBS.

Yes!...and those who work on “parts” mustn’t be kept in the dark about their contribution to the whole. It’s only through this manipulation that we have income inequality! Intuitively people can feel whether they are valued or not.

@@keithvolpe1065 Try building a smart phone yourself, all alone.

And the video was made in December 2014, long before the he become President and everyone can now see his vile attitude!

@bitchasshoeism "liberal dumbass". It's amazing how you are interested in educating yourself with these videos, but you still represent such a poor level of communication after reading something you don't like

Regardless on whether you like him or not, he has been a great President

​@@shoaibkayani1496 Yes because under Trump people have access to essential healthcare, worker rights have been protected, corporations are paying their tax like everyone else, far right terrorism is at an all time low, the wall has been built, Mexico paid for the wall, ........oh wait.

@@shoaibkayani1496 He has been a weak president presiding over an economic recovery that has been ongoing since Obama's tenure. Trump hasn't accomplished a single major platform goal. He has only made headline after headline while dismantling our nuclear security by ditching treaties while not proposing alternative means of handling the issues those treaties covered. So long, Iran Nuclear Deal. It was nice being able to readily inspect civilian nuclear power projects.

With Adam Smith or the school of life?

youtubeviewer Yes

In fact marx agrees in many things with him :S

Not ironic. Adam Smith was considered a hardline leftist back in his day Some quotes from him: -“As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed and demand a rent even for its natural produce.” -“Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.” -“No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable. ” -“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.”

@@corlys6372 Well he never sought to destroy capitalism or to move into a post capitalist society he believed that capitalism can be reguided to create a more meaningful world.

That username tgo

@@angelbarajas9180based? Based on what?

I've heard that it's very difficult to read, how hard is it?

@@alexwinstanley424 Not as hard as the communist manifesto. I'm seventeen and got slightly above average grades in English and left the book with a basic understanding of it's concepts.

@@lmaozedong501 when you say basic, you mean there is a more complex version!? You have a German Chancellor's full blown interest.

If you mean rich people voluntarily giving money to the government, it's no longer a tax, but charity. Rich people are obviously better off donating their money directly to charitable causes than giving it to government who can squander it, steal it through corruption, or even use it for negative purposes (like starting a war, or destroying a piece of nature to build an ugly statue glorifying the government).

@@robertdegroot8302 out of topic, but do you still struggling with existential crisis?

So true

So many don't think they have a choice or power.

Ikr. Like think about how corporations scammy tactics would fall flat with consumers highly educated

@Timothy Lee It would be nice if you made sense. Smith, a Scot, laid out the basis for capitalism through observation and common sense. Capitalism is the only form of economics that actually allows for the creation of wealth by using the consumer as the driving force for effective growth and betterment of humanity. Socialism as advanced by Marx is a form of tyranny imposed by government and is not a form of economics. History continues to prove this through the ages which is continually ignored by socialists.

@William Magee You make no sense at all, and are so indoctrinated into Communism you have made up your own facts to support your idea of how socialism/communism is good and capitalism is bad! You ignore what has happened to communist countries like China, Russia, Cuba, Venezuela, and everywhere communism is tried. Communism enslaves the people it purports to liberate from capitalism. Why don't you actually examine these facts that cannot be denied even by you? I have absolutely no use for anyone who accepts any form of socialism/communism as a valid form of government and that includes you!

@William Magee You have just proved why socialism/communism will always fail using your own words, but I doubt you realize it. You blame the tyrants who led their countries into total slavery instead of blaming the very system (socialism/communism) that promoted these so called leaders to do what they did! Venezuela and Cuba leaders did the very same thing, as all countries have suffered from the resultant slavery of the people! How you can blame everything else but the actual cause is perplexing and it reveals your lack of ability to use logic and historical fact to arrive at the real reason (socialism/communism) for the dismal results. Communes have been tried over and over again here in America since its inception, and all have failed when the followers realized their slavery! Communism by any other name is Nazism/Fascism/socialism, they ALL lead to the same result - total slavery of the people under their repression! I know you don't understand this because your myopia is chronic and incurable as most Democrats here suffer from!

+Buck Shot Rousseau was a douchebag

***** lol

I dig 'im tbh.

the more i read rousseau the more i like smith

The more I read Rousseau, the more I realize that Rousseau was for imposing morality out of his own fantasies.

It is quite all right, it will not be held against you in any way at all :-D

+The School of Life Narcissist you didn't prove that, I think you proved that they are lonely inside and need validation from others for their existence. That I don't think is narcissism, depression maybe... Smith is a great as I understand it, I have never read his bio so dont really know, I just understand his theory's and like that.

+CaptainZuluGamma He said Narcissist because of Smiths argument that we need to feed their vanity, to give them awards and what not to feed their ego. Plus, to need validation from other for our existence is a human trait in general. Sociocultural psychology dictates "we are social animals with a need to belong" hence why we have social groups all around us that we identify ourselves with, a place to feel accepted and to feel wanted.

+CaptainZuluGamma He said Narcissist because of Smiths argument that we need to feed their vanity, to give them awards and what not to feed their ego. Plus, to need validation from other for our existence is a human trait in general. Sociocultural psychology dictates "we are social animals with a need to belong" hence why we have social groups all around us that we identify ourselves with, a place to feel accepted and to feel wanted.

+Return to the sun Sorta like like Cawdor is from Calder. Something happens to the "L".

***** Absolutely, I appreciate the consideration. In the meanwhile, enjoy: society6.com/product/lit-lust_tapestry#55=414

Lol, great name 👍

Marx's theories never worked. They assume to understand what every person desires. This is why the USSR failed and every other socialism system has as well. The reason as to why socialism always become tyranny is because it cannot control peoples desires and wants so it has to enforce its agenda.

It is simply not true that socialism always results in tyranny. This should be easy to see, if you look at some of the most socialistic, democratic countries in the world. Consider the Scandinavian countries. You are completely right, when you say that people’s desires and wants can't be controlled. I am from Denmark, and I can tell you for sure that, a socialistic society doesn't need to control peoples desires and wants in order to work properly. We don't need to control what people want because we believe that people can get the lives they want, if we provide freedom to them. Freedom to live the life you want to live, no matter how poor your family is, and no what serious disease you may suffer from.

Marx's theories have been implemented more or less successfully on small and medium scales, and unfortunately the USSR got Stalin to ruin everything.

UdSSR never had an actual socialism. What they had is better called "state-capitalism". From the beginning the Bolcheviks suppressed every popular socialst initiative there was, and instated their doctrine of one supreme leader leading an army of workers. So the Soviets are always a bad example when you want to prove that socialism/communism failed and always will fail.

No, we don't need to consider that tyrant Marx.

The true name of capitalism is actually "Commercial Society" Capitalism as a term was first used by protosocialists and popularized by Karl Marx

To people who do not get it: Any government that colludes or collaborates with the wealthy, primarily at the expense of the economy, the country, and society, is automatically the most tyranical government ever possible. If you refuse to have a government like such, keep the wealthy and the government separate, any kind of collusion or collaboration must be stopped with extreme prejudice.

That's what social-libertarians would have you believe. If this was the case then why do so many companies fail? Yes, many big businesses do dictate fashion, but just as many consumers dictate it to companies it completely depends on context. Besides, at the end of the day it doesn't matter particularly much because, as Smith points out, it's all about finding an equilibrium between the consumer and the company.

i agree with what you are saying, but just because big companies fail doesn't mean that they don artificially create demand for their own products,using billions of dollars to steer us into buying things we don't need. people are very easily influenced.

it is an arrogant position to a random excess of wealth to trick;e it down - trickle-down theory - out of date and flawed to fair play to all participants in a society - contributing , so-called , or not

+Simon Shulgefella I consider myself a social democrat. I want a capitalist society with regulations in order to prevent monopoly and oligopoly. But I would urge you to listen to people like Milton Friedman (right-libertarian). Always good to broadening ones viewes and ideas

in my opinion, a big government impact but with a small government. I have no problem paying 50% taxes but there is no need to raise multiple parliaments, commissions, counsels and god knows what. Redistribution, protection (police, healthcare), justice and infrastructure (roads,...) are all what is necessary. On the side of the economy, the government should be a referee much more so then a player. Give freedom but be ruthless with fraud and corruption. The people have enough initiative, no need for handholding.

That's because Smith made more sense than Marx... a lot more sense.

***** smith was wrong on so many levels. Most recently the proof of lack of his invisible hand

alex vdb Still more correct than Marx ever was.

PS: Nobody’s taking away our “25 Rolls Royce’s” but WE MORALLY OWE (Just our “Greedy” 26th Rolls & up) BACK TO OUR STABLE SOCIETY (that “Owns & Allows” us to Create & Safely use our “25 Rolls”) TO KEEP IT STABLE!! We must Realize Nobody gets Rich without our “Fast Food Workers” who ironically Need “Food Stamps” for Stability!! No one is lazy & “Reaping Free Benefits off the Rich’s Money” because the GREEDY PART BELONGS to all of us!! Read Max Weber’s “Protestant Ethic & SPIRIT of Capitalism” where, early on, Wealth was only a Moral pursuit just to achieve our limited “State of Grace” & then we stopped so others could also achieve their monetary “Salvation” Watch “The Gods Must Be Crazy” where a “Coke bottle” falls from a plane into the midst of a primitive tribe & one guy grabs it & everyone fears him for grabbing ALL the “Money” & now being their “King”!! In "Direct Democracy" we vote directly for issues that we've tested for merit, etc before proposal, then we popularly enact them & then Voter Volunteers will easily enforce small & specific Laws that have all the "legal standards" for enforcement in them ... congress, senate, president, agencies, courts, etc have a role to play, but within it & in service to it ...

***** too bad you probably didn't save the project either eh?

+Pat Moon why so mean. He admitted the mistake. Great work as usual school of Life.

Rebecca Monroe And just how am I being mean?