Do you feel capitalism has evolved away from Adam Smith's original intention?
Not sure really if it can be said that Adam Smith had an intention towards capitalism. After all, he didn't really invent it, did he? Just examined and put it into systematic study.
I'm no economist, but you might enjoy reading some of the work of John Nash on game theory as it relates to economics. As far as a historical point-of-view goes though, don't listen to me!
Well, you're right, he didn't "invent" capitalism. My politics was showing there. The point I was getting at is that capitalism doesn't always work (in my opinion) especially for those on the lower rungs of the economic ladder.
I'll have to look into John Nash. If I recall correctly, a movie was made of his life, A Beautiful Mind, with Russel Crowe.
Read Ayn Rand's Capitalism: The Unknown Ideal. She will answer many questions regarding Capitalism. Rand did comment on Smith's concept of trading guided by an invisible hand.
Rand dismissed the invisible hand concept due to the fact that it implied men are guided by some mystical power, rather than their own volition. There is no third party in capitalism - neither an invisible hand, a government, a king, or a man holding a gun to your head. Capitalism includes only traders voluntarily exchanging value based on their rational self-interest.
Generally yes, but there is more to the story and it is worth trying to understand more on the subject. The most important thing is to understand why Adam Smith believed, what he believed in. He believed a government that leaves people alone to live their lives according to their own judgement is the best for all.
When people are given the freedom to be the best they can be, the result is the rich and the poor have a better economic situation. Yes the poor are the ones who win in the free trade capitalism of Adam Smith. The purpose of government is not to make everyone equal.
It can not happen, but rather give everyone the freedom to make choices on their own enlightened self-interest.
I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.
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