The Real Adam Smith: A Personal Exploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world.
Morality and Markets is the first hour, which takes an intriguing look at Smith, his background and the evolution of his ideas, both economic and ethical. Norberg travels Europe to locales where Smith was born, educated and spent his life teaching, writing and advocating his revolutionary ideas on markets and human morality.
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Chapters
0:00 Introduction
2:16 Smith’s Early Years
14:58 Morality & Impartial Spectator
19:10 Theory of Moral Sentiments
24:47 Mr. Smith Goes to Paris
29:45 Division of Labor
33:34 Self-Interest & Invisible Hand
37:24 Natural Liberty
42:33 Monopolies & the US Colonies
50:19 Wealth of Nations
53:43 Conclusion