Weekly Post on Adam Smith and his 'Wealth of Nations'

I will present you two videos that can help you understand Adam Smith and Karl Marx better.

The video above summarizes some key points from Adam Smith's and Karl Marx's ideas. It clarifies the relations of cause & effect and gives examples concerning the philosophers' ideas. It covers Smith's Wealth of Nations, but does not touch upon the Estranged Labour or the Manifesto of the Communist Party. Instead, it gives insights about Marx's ideas about the class system and his views on Capitalism.

At the beginning, Adam Smith's concept of the "invisible hand" came somewhat complex and ambigious to me but the video HERE helped me better understand what it actually is and how it works and regulates the economy. You can find indormation regarding the simple relation between businesses, supply and demand relations, laizzez-faire and a brief glance at how economy changed over the course of time.