Adam Smith: The Invisible Hand

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Why are some countries wealthy while other nations are poor? Prof. James Otteson, using the ideas of Adam Smith, explains how the division of labor is a necessary and crucial element of wealthy nations. Additionally, Otteson explains Smith's idea of the invisible hand, which explains how human beings acting to satisfy their own self interest often unintentionally benefit others. Watch more videos: http://lrnlbty.co/y5tTcY
Date: 
2011-08-29 05:07:33
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