Відео

what movie is this from?!

I'm waiting to see any video of anyone being racist to this girl.

Viewing people as a resource is one of the most horrific attributes of the capitalist mentality

I like Adam Smith and his idea that if the government will stay out of practicing favoritism and stick with stable, equal laws, that people will create wealth. Unfortunately, this little play was rather silly.

Adam smith and Karl Marx Ideas are both valuable , if greedy and despots do not distort and twist their ideas in the name of ideology

Those who say this should be used as university material prolly never went to a proper uni. It's like using triumph of the will as a historically accurate depiction of Germany.

Ah child labor how inspiring

At what point does capitalism cross the line over to ‘corporatism’? So for example, say there are 5 of the biggest car part manufacturers that have, in the past, created products that simply outmatched their competitors in a fair manner. This was a net-positive due to capitalism. Those who came up the bright ideas of making more efficient, durable, cheaper products were rewarded with a greater share of the public’s business, and the customer in turn received better car parts. And over time, these select few manufacturers started growing larger, and they took greater and greater percentages of the car part customer-base. As they should, right? They were being rewarded with having and putting into effect their smart ideas. However, we must remember, the biggest reason as to what motivated those to come up with these ideas was the dream of getting the rewards. The wealth, respect, power, stability, etc. Of course there were those who came up with ideas out of the desire to bring a positive change to society out of sheer benevolence, but there are definitely a lot who thought more of the former motivation. So these 5 car part manufacturers scaled up in size. They grew wealthier, and with this wealth, they spent more money researching and developing better car parts, running their businesses more efficiently, marketing their products better, etc. This in turn made them more money, and you can see how the snowball grew. The years went by, and these top 5 companies ended up becoming 90% of the car part market. They did capitalism to a tee. Everyone benefitted. The owners who came up with the smart ideas grew wealthier, more powerful, more respected, etc. The people had faster, more fuel efficient, more aerodynamic cars. And lots of people now had jobs working for these companies. However, along comes a newly started company who has done their own research. They have come up with better products, ways to more efficiently run their business while increasing their workers salaries, and an innovative new style of marketing. In capitalistic theory, this new company would start taking a larger piece of the market pie as they outcompeted the big 5. But this doesn’t happen in reality. What actually happens is the owners of the top 5 car part manufacturing companies meet up together in secret. They have all realized that this new company is a threat to their businesses. They simply outcompete. So the owners decide to work together. The big companies, all in cahoots with each other, drop the prices of their products way, way down past the prices of their new competition. They are fine with operating at a loss because they are so big that they can afford to. In the long run, they know this move will net them more money than to begin with. As time goes on, customers leave the new, talented company for the big 5, because it’s simply far cheaper. The new company, who doesn’t have all that much resource, is forced to close down. The owners of the companies that work as an oligopoly raise their prices back up, and keep their 90% share of the car part market. Is what they did still considered capitalism? They acted as sovereign individuals, and came up with ideas to benefit their business, which is allowed in theory with capitalism. A big part of capitalism is that it works with the knowledge that the majority of people want to benefit themselves before society, and it harnesses this self interest to benefit society. However, we can see that there are some exploits that are technically still considered capitalism. Should there be an updated version of capitalism that addresses these holes in the system?

These accents are fantastic.

Dear Sirs and Ladies who made comments I think the majority here are interested in economics, so how about we form a group of economists online to benefit from experiences?

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Adam Smith crated the LIBERALISM not the CAPITALISM...the CAPITALISM use the LIBERALISM to accumulate more and more money (instead of gold) bringing just a little portion of wealth to the humanity...the failed of globalization is a clear example of this...

It is scandalous that his moral uprightness is not taught. He is much maligned.

Can't American actors manage a Scottish accent?

Excellent

That's the kind of self-interest Ayn Rand was talking about.

Except Jeff Bezos seems to have done well for himself hoarding wealth and underpaying his employees.

Adam Smith wrote about capitalism before the industrial revolution. Therefore he saw a positive future. Karl Marks was born in that future after the industrial revolution. He saw that along with the positives, many negatives also came with the industrial revolution. So he wrote about a way out of the negative impacts of capitalism. In fact Adam Smith wrote about the ways out of Mercantilism. Before the industrial revolution, merchants believed in hoarding money. They didn’t care about the life of the workers or the conditions of the factory. This he labelled as Mercantilism. Adam Smith theorised that morality or the invisible hand could help in this. If a merchant allowed his morality to help make the conditions of the worker better then the efficiency of the worker would increase as a result the factory would produce more and better quality products making the merchant win the competition. Both in my opinion were against the domination of a merchant over the lives of the workers. Both wanted to improve the life of the worker. The worker was the protagonist in both of their theories

Beards in the 18th century English speaking world...?

I'm glad to have seen this video and learned about Adam Smith. Thank you.

Didn't Smith also mention 'a level playing field'?- everyone born with equal opportunities to follow their dreams? That needs 'interventionist' government policies and those have been in retreat for 40+ years and counting. BTW, 'the invisible hand' gets many more mentions here than in 'The Wealth of Nations', if I remember rightly.

video says father of capitalism is a commie?

Brilliant video

Compassionate capitalism!!!! That's funny.

Lets just make short work of Adam Smith. His view of Capitalism is such that kingdoms that embrace his brand of Capitalism will rise to prominent positions of power. But I will say this: once they do other kingdoms will vie for power and war will emerge ruining their seat of power. Such happened to the British Empire. Kingdoms that do not have policies to help their neighbors and work together to share and distribute goods will ultimately fail.

“Give him this coin, wench,” is a line you don’t hear much these days.

Thinking the rich have serious interest in helping the poor, is like putting wolves in with sheep, hoping they'll turn vegetarian? Hoover, at the start of the great depression, said the rich will help the poor! They voted him ou5of office! Roosevelt came with the New Deal! Social-capitalism?

"The invisible hand guides you! " Yeh sure it does!" We can see now how awesome it is to have our society completely overtaken by monopoly and the stock market and banking system criminals that every single time the F**K up they use socialism to save face making people pay for their criminal activities. What a bunch of BS is capitalism.

"A dramatic of ..." Did you complete school?

orginal movie name pls

Brilliant! THANK YOU!

Dude, mercantilism would work if it was done right and the right people were in charge. REAL mercantilism has never been tried before.

today someone would have said 'shut up adam, your drunk again'

Yes, Smith was genious but Marx was better.

Sounds a bit left wing .... Doesn't mention Amazon here...

A message to (and ignored by) all leftists and almost all corporations. Corporations and leftists, both despise true capitalism, because it allows others to be free and to prosper.

He didn't mention the violence inherent in the system oppressing the proletariat under the yoke of the petit bourgeoisie.

"Adam Smith the founder of capitalism" err, really?

The kid keft out the bit about importing cheap Muslim labour to undercut the locals.

I wonder how that American kid ended up in Edinburgh in the 1700s?

What a load of naive, idealistic tosh. The real truth and history of capitalism was the rich pin factory owner used his wealth and influence to crush all competition, then created a huge monopolistic, corporation that effectively bought out government, set policy and kept him and his elite cronies in gravy while the descendants of those poor ended up as drug addicts reliant on pushers for pain relief after being chewed up by the capitalist meat machine.

What a load of niave, idealistic tosh. The real truth and history of capitalism was the rich pin factoty owner used his wealth and influence to crush all competition, then created a huge monopolistic, corporarion that effectively bought out government, set policy and kept him and his elite cronies in gravy while the descendants of those poor ended up as drug addicts reliant on pushers for pain relief after being chewed up by the capitalist meat machine.

Smith being descended from a blacksmith obviously had a tradesman's intellect. He could see both sides.

Hillsdale College uses Adam Smith’s teachings because they are true and work.

An example I know of is De Haviland (SP) dinner ware. They had a system where on worker did all the steps to make dinner ware. Not all workers were as skilled in every aspect of it. Some of the workers help each other with their skills, and shared in the profit, according to an agreed upon schedule of payment. Not long after that they were the premier makers of fine table ware in France. by dividing up the labor among those with individual skills, the finished product was of such quality it was in demand all over the world. Now, in 2024, i dare you to find me a factory that does not divide up the labor according to skillsets. If you do, are there more than 2 or 4 workers there?

However it is up to the government to create the conditions where one can compete and invent and allow that invisible hand to shape the market. When monopolies and crony capitalism and government corruption tilt the market the invisible hand is killed.

I'm a lifelong capitalist, and this is STUPID.

9:48 these are investors NOT socialism its "our" pinshop because they purchased a Share of the pinshop not because they equally own the means of production

Share & Care 😊 Beautiful 😍

Are we all ignoring the child slave in the video?