Laissez Faire

Hello everyone,

Just like the invisible hand, another important concept in capitalism economics is the laissez-faire. It is a concept proclaimed by Adam Smith. As we know laissez-faire is a product of the enlightenment idea. The concept defends the idea of unleashing the human potential throughout a system where the restrictions of the government are unhindered. Adam Smith had the similar thought where laissez-faire is a moral program and the market is the instrument for ensuring the natural laws.

Adam Smith’s Invisible Hand and Charles Darwin’s Natural Selection

 When we examine Adam Smith's work, we see quite familiarity at some points to Darwin's Theory of Natural Selection and at some points, it is even getting more and more similar. You can check this website to read more.

Karl Marx !

Check out for great quotes from Marx !!

Link to see quotes

Adam Smith

This is a significant quote by Adam Smith which means:

Individuals aim to become wealthy (own-interest) by that, they trade their products with others who value what they offer. Therefore, they don’t give people “dinner” for the good of those people/to help them, but because it makes them richer.

Creating a Culture of Leadership

In addition to extrinsic motivators such as money and reputation, people seek for intrinsic motivation from their working environment as well. Intrinsic motivators can be a sense of accomplishment, purpose and meaning. As Adam Smith indicates, division of labor is a good way to increase productivity by means of specialization but it lacks of depth in the sense that people usually feel useless for working as they can not recognize their contribution. John P. Kotter, founder of Kotter International, in his article "What Leaders Really Do" states that this problems can be solved by encouraging leadership instead of management. Through communication and mutual respect, leaders should motivate people to reach their potential not by controlling and simply directing.

Invisible Hand&Pound

When I was searching for Adam Smith ı saw many articles about his theory called Invisible hand. First I didn't understand it because there were many words that I didn't understand then I found this video and I finally understand :) For understanding Smith and economics you should definetly check this video

https://www.youtube.com/watch?v=ulyVXa-u4wE




Also I learned that Adam Smith took a place at the back of 20 pounds. Many people wasn't please with that. If you want to check out why they didn't want him look at this link :)

http://www.independent.co.uk/news/uk/this-britain/the-big-question-who-was-adam-smith-and-does-he-deserve-to-be-on-our-banknotes-422276.html

All About Marxism

Hello my friends,

You can find helpful information in this website about the details of Marxism.

Marxism