A Different Adam Smith
Though popularly billed as the spokesman for the free-market, it's high time we realize Adam Smith felt government intervention in markets was necessary.
Though popularly billed as the spokesman for the free-market, it's high time we realize Adam Smith felt government intervention in markets was necessary. "The nature of the present economic crisis illustrates very clearly the need for departures from unmitigated and unrestrained self-seeking in order to have a decent society...Smith had a diagnosis for this: he called such promoters of excessive risk in search of profits 'prodigals and projectors' - which, by the way, is quite a good description of many of the entrepreneurs of credit swap insurances and sub-prime mortgages in the recent past."
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
A completely unexpected discovery beneath the ice.
- Scientists find remains of a tardigrade and crustaceans in a deep, frozen Antarctic lake.
- The creatures' origin is unknown, and further study is ongoing.
- Biology speaks up about Antarctica's history.
Jeff Bezos, the founder of Amazon.com, explains his plan for success.
- Jeff Bezos had a clear vision for Amazon.com from the start.
- He was inspired by a statistic he learned while working at a hedge fund: In the '90s, web usage was growing at 2,300% a year.
- Bezos explains why books, in particular, make for a perfect item to sell on the internet.
It's one factor that can help explain the religiosity gap.
- Sociologists have long observed a gap between the religiosity of men and women.
- A recent study used data from several national surveys to compare religiosity, risk-taking preferences and demographic information among more than 20,000 American adolescents.
- The results suggest that risk-taking preferences might partly explain the gender differences in religiosity.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.