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10min chapter
Revisiting the "father of capitalism"
The Gray Area with Sean Illing
The Invisible Hand and Its Interpretations
This chapter examines the evolution of the concept of the 'invisible hand' from Adam Smith's initial ideas on economic decision-making to Milton Friedman's free-market interpretations. It contrasts Smith's views on wealth as a source of political power with concerns about its corruptive influence, particularly in capitalist frameworks. The discussion highlights the moral implications of capitalism and the complexity of Smith's thoughts on human behavior and societal structures.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode