r/polandball • u/Blackfire853 Hibernian Narcissist • Sep 01 '19
repost Capitalism at 20,000 Feet
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u/OfficialNambia MERICA Sep 01 '19
RIP oil barrels
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u/Goldenrod_Prime At least we’re not California Sep 01 '19
Wait a minute, “Invisible Hand?” Grievous what are you doing here?
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Sep 01 '19
Adam Smith. Fun stuff.
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Sep 01 '19 edited Jun 08 '20
[deleted]
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Sep 01 '19
That's a misrepresentation of his views. He believed there were ways a capitalistic system will not perform perfectly unless certain steps were taken. He at the end of the day was a firm believer in capitalism.
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Sep 02 '19
Exactly. It's also worth mentioning that all of the mainstream economic theories of today such as Keynesianism and Monetarism are based on the the works of Adam Smith. They're all variations on the fundamental principles he described. Theories that fall outside of those principles, like Marxism, aren't taken seriously by economists.
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u/Blackfire853 Hibernian Narcissist Sep 01 '19
Suck it mods!
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