Hanging with History
The first season focuses on the origins of the Industrial Revolution or the Great Enrichment, we go deep into history to gain enough background knowledge to actually understand the various theories of the origins of the Great Enrichment. Eventually we learn that we also need to know how the miracle was consolidated, as the many other close approaches to the Industrial Revolution failed.A kwirky style, but intellectually ambitious with the goal of understanding history well enough to understand the miracle that happened that one time. It's gonna be a long series.
Hanging with History
66. Adam Smith Part 5, The Wealth of Nations continued
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Harald Hansen
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Season 1
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Episode 66
How does opulence among nations arise? Smith describes a Newtonian system of non violent market competition operating through the price mechanism which can generate a life for the working poor that is many steps up from the usual run of human misery that everywhere else prevails. That process also leads to a peaceful idyllic countryside, as a surprising outcome.
This episode goes into how market competition is a grand form of mutual cooperation leading to the best solution to the Great Coordination problem, at least as applied to economic life.
This is the dog episode where 3 dog examples are used to highlight human behavioral tendencies.