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30,877 Views • Feb 2, 2023 • Click to toggle off description
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YouTube Comments - 69 Comments
Top Comments of this video!! :3
Smith wasn't a Capitalist nor Socialist, his view is so varied and balanced that both sides take inspiration from him.
16 |
"Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many."
"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."
"“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.”
- Adam Smith, The Wealth of Nations.
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When you know people never went beyond page 200 of the wealth of nations, smith never say said that government intervention is bad or needs to be limited, but he did say that the government should be the entity responsible for infrastructure and education... as well as helping workers to have better bargaining power since in the labor market, everything is at the disfavor of the worker. Also, he never said that the market determines both price and quantity, ge said demand and supply determine only the quantity, and the price is a result of a power relation.
51 |
Interesting. How about a proper long video explaining 'arbitrismo' and all the influence of the Escuela de Salamanca in today's econonomics?
15 |
Forgot to mention he was a philosopher.
21 |
He also warned against the power of the enterprise and the exploitation of the worker.
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I still don’t fully understand the free-market Vs communism thing tbh. Like, I know what they do different but don’t they both usually end with one person owning everything?
10 |
Did my Economics dissertation on his theory that higher alcohol taxes INCREASE consumption... and he was right!
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Chanakya is the father of economics
2 |
So GDP was his idea huh well I’ll be damned 😅
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The father of economics was ibn kaldun even Ronald ragean said this
7 |
This is hilariously bad as Smith preached the need for heavy regulation and high progressive tax systems as well as calling landlords the scum of the earth and leeches on society.
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The whole “self regulation of markets” pushed by smith is deeply flawed- competition and self regulation always ends with a select few controlling markets and efficiency dropping off a cliff, as innovation and risk becomes second to market control.
2 |
I wonder how he'd view all of the billionaires that exist now though...
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a man with a wooden leg named smith
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Yes, I hate when people say paying taxes is patriotic. Paying as little tax as possible is patriotic
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“Embraced his theories”. Please dont forget colonized people are people too.
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Wrong. Adam Smith was wrong.
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@clearmenser
1 year ago
The Wealth of Nations is incomplete without his other book The Theory of Moral Sentiment. Check it out.
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