DescriptionThe classical economists pioneered a new way of thinking about the uniquely human tendency to produce, trade, consume, and accumulate. Adam Smith (1723-1790) explained how the division of labor expands productive power and argued for freedom in economic affairs. David Ricardo (1772-1823), a London stockbroker, developed the concept of diminishing returns, the wages-fund doctrine, and classical rent theory. Another classical theorist, Thomas Malthus (1776-1834), proposed that workers are doomed to subsistence wages, because populations increase geometrically while food production increases arithmetically. Other classical economists, including James Mill and John Stuart Mill, extended and refined classical economics throughout the nineteenth century.
DescriptionSteve Allen's at it again, pulling characters from the past to provoke confrontations of historic proportions! In this tenth volume, earnest social reformer Margaret Sanger is pitted against the economics philosopher Adam Smith, who in turn is befuddled by the asceticism of Mahatma Gandhi. Sanger (played by Jayne Meadows) introduced as the inventor of birth control, insists, "I was not creative - I was appalled!" Smith (Sandy Kenyon) gives himself airs, but it is Gandhi (Al Mancini) who reminds both that "true civilization itself consists not in the multiplication, but in the voluntary reduction of wants and desires." It's a fiery gathering, but Allen uses the participants to show us, once again, that history is made up of personalities and personalities, in turn, shape history.
DescriptionAn Inquiry into the Nature and Causes of the Wealth of Nations is one of the most important and influential works ever published on economic theory. A masterpiece of the eighteenth-century Scottish Enlightenment, it develops a theory of social order arising from the unintended consequences of self-interested behavior. This self regulating system of the free market, Adam Smith contends, protects consumers from entrenched special interests and is usually harmed by government intervention. This program examines explains Smith's major arguments and provides the background necessary for comprehension. Each of the five books of The Wealth of Nations is covered in order to explain how the seemingly diverse themes relate to Smith's general purpose.
DescriptionAn Inquiry into the Nature and Causes of the Wealth of Nations is the foundation of classical economics, and it has influenced a broad range of thinkers. In it, Adam Smith stresses the importance of the division of labor to economic progress. He criticizes the arguments for economic planning and offers a detailed theoretical and historical case for free trade. Far more than a work on economic theory, The Wealth of Nations contains philosophy, history, and political theory. This program discusses Adam Smith's general approach to philosophy and how The Wealth of Nations fits into that approach. It then goes on to cover some major themes in The Wealth of Nations, a lengthy and complex book. Smith's sometimes difficult arguments are given with the background necessary for comprehension.
