The Invisible Hand - Full Video

Рет қаралды 158,567

8 жыл бұрын

The Invisible Hand isn’t so invisible after all!
The entire global economy boils down to two people: a buyer and a seller. And the system works best when the seller has the buyer’s best interests at heart. But even if the seller is acting strictly in his own interest, good things happen - we get what we want!
Over 200 years ago, a Scottish philosopher named Adam Smith came up with revolutionary ideas about how things work. Those ideas are easy to see in the world around us.
Visit a bakery in Scotland to witness supply and demand, and to learn how businesses know the prices at which they can sell their products and what they should offer customers. Then go to eBay to see the Invisible Hand in action, showing how economic systems can self-regulate without a “Man of Systems” micro-managing every transaction, and how trust and reputation are critical to sellers.
Educators can also get a free DVD version of the video, as well as access a full teacher’s guide and other teaching resources by creating a free account at www.izzit.org.
Subject Areas:
■ Business
■ Economics
■ Family & Consumer Science
■ Geography
■ Government
■ World History
Topics:
■ Adam Smith
■ Central Planning
■ eBay
■ Economic Principles
■ Free Market
■ Invisible Hand
■ Prices
■ Scottish Enlightenment
■ Supply & Demand
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Пікірлер: 17

@karimaka9261 6 жыл бұрын

it is not the benevolence from the butcher,the brewer,or baker that we expect our dinner but from their own regard to their own interest.we address ourselves not to their humanity but to their self love. Adam smith.

@nerminbayramli6116 4 жыл бұрын

Best video to understand this topic!!

@jordynpalmer1417 5 жыл бұрын

So helpful for my econ class :)

@scrapbookwithstarr 6 жыл бұрын

Thank you! This is exactly what I needed. :)

@chrisr.5647 4 жыл бұрын

A free market is one of the most powerful forces on earth

@johnmills3442 4 жыл бұрын

Well done on the simplicity of your message

@lambda4931 7 жыл бұрын

Excellent!

@isabelamacavei1333 4 жыл бұрын

Coming from a communist system, I'm so blessed to live in a free market in which a bad customer service may run someone out of business just by word-of-mouth, let alone by internet sharing, whereas in my youth, that was not penalized since the only sellers were government employees paid by hour and with no incentives or possibility to bring more products (usually food was scarce), or behave like someone with genuine interest at heart for the buyer. This video was a great lesson on Adam Smith. Thank you!

@abuahmed-ik5ev 7 жыл бұрын

Thanks. It's a nice video.

@hindz9173 6 жыл бұрын

Great video

@yaoakimtantiquyloukou9674 7 жыл бұрын

I love Adams Smith father of Economy

@bope1469 4 жыл бұрын

Thanks for the video. Very well done

@jinhangguo4078 7 жыл бұрын

very nice

@christianchellis9057 4 ай бұрын

The invisble hand is one of the hands that can work, but by no means the only hand that has to exist.

@sanjaybhowmick8386 4 жыл бұрын

The invisible hand presumes moral action. That is the basis of Adam Smith's use of the term. And he does not make it the most important message of WofN as we have made it out to be.

@sheejas9734 Жыл бұрын

What about the idea of resources by Adam smith. I would like to know more of it

@McRyach 4 жыл бұрын

How does "Invisible Hand" explains bailouts? If corporations make profit they get rich. If corporations collapse taxpayers bail them out and they still getting rich.