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Private Notes
Morality & Markets, explores Smith’s life and role in the Scottish Enlightenment, his thoughts on empathy and how we distinguish right from wrong. French wine, Scottish whiskey, and freshly-baked scones all illustrate Smith’s economic principles. True wealth is defined. We discover Smith’s thoughts on the government’s role in markets, his distaste for monopolies/crony capitalism in the form of the East India Company, and his thoughts on the American colonies.
Ideas That Changed the World, explores contemporary life and Smith’s influences on the very things we see going on today. Why is Smith widely studied now in China? Ethical businesses, like Whole Foods, showcase the morality Smith insisted was critical to thriving markets. Uber and eBay demonstrate that markets can thrive through the organization and “self-policing” of the participants themselves.
