The Invisible Hand

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How did economist Adam Smith shock the world in 1776? By telling the world that the best way for a government to control an economy is to not control it, and to leave people to buy and sell freely. Use this brief video as a way to quickly introduce the concept of laissez-faire in your class.

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CCSS: Adaptable
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Pros

  • Illustrates example of traders competing and guiding markets toward positive outcomes
Cons

  • Note: Links at end of video go to a general education resource that is not specific to an economics' instructor's needs
Common Core