Basic foundations and ideas of capitalism in the Industrial Era.
Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Laissez-faire” Let-it-be ECONOMICS: the belief that an economy functions best when there is no interference by GOVERNMENT. It can be traced to the 18th-century French physiocrats, who believed in government according to the natural order and opposed mercantilism. Adam Smith and others turned it into a central tenet of classical economics, as it allowed the invisible hand to operate efficiently. (But even they saw a need for some limited government role in the economy.) In the 19th century, it inspired the British political movement that secured the repeal of the corn laws and promoted free trade, and gave birth to the economist in 1843. in the 20th century, laissez-faire was often seen as synonymous with supporting monopoly and allowing the business cycle to boom and bust, and it came off second best against Keynesian policies of interventionist government. however, mounting evidence of the inefficiency of state intervention inspired the free market policies of Ronald Reagan and Margaret thatcher in the 1980s, both of whom stressed the importance of laissez-faire. By Barry Norman, Investors Trading Academy - ITA
Adam Smith was no uncritical apologist for capitalism: he wanted to understand how capitalism could be both fruitful and good. If you like our films take a look at our shop (we ship worldwide): http://www.theschooloflife.com/shop/all/ SUBSCRIBE to our channel for new films every week: http://tinyurl.com/o28mut7 Brought to you by http://www.theschooloflife.com Produced in collaboration with Mike Booth http://www.YouTube.com/SomeGreyBloke #TheSchoolOfLife
Brief history of Laissez Faire economics through the Gilded Age in the United States. Created by Rachel Wittwer and Elma Tatarevic
Professor Friedman proposes ridding America of trade restrictions. Richard Deason, Helen Hughes, Donald Rumsfeld. http://www.LibertyPen.com
We talk a lot about Keynesian economics on this show, pretty much because the real world currently runs on Keynesian principles. That said, there are some other economic ideas out there, and today we're going to talk about a few of them. So, if you've been aching to hear about socialism, communism, the Chicago School, or the Austrian School, this episode is for you. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
A short lecture on the emergence of capitalism and socialism and their core beliefs.
Rand puts forward the moral superiority of economic freedom. http://www.LibertyPen.com
Professor Friedman is asked if he favors a laissez-faire libertarian economy. http://www.LibertyPen.com