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The Invisible Hand

Format: DVD | Streaming | Download
Length: 14:37
Grade Level: 9-12+ | Price: $ 15.00
Closed Captioned:

DVD: English
Streaming: English | Italian

The Invisible Hand isn't so invisible after all!

The entire global economy boils down to two people: a buyer and a seller. And the system works best when the seller has the buyer's best interests at heart. But even if the seller is acting strictly in his own interest, good things happen—we get what we want!

Over 200 years ago, a Scottish philosopher named Adam Smith came up with revolutionary ideas about how things work. Those ideas are easy to see in the world around us.

Visit a bakery in Scotland to witness supply and demand, and to learn how businesses know the prices at which they can sell their products and what they should offer customers. Then go to eBay to see the Invisible Hand in action, showing how economic systems can self-regulate without a "Man of Systems" micro-managing every transaction, and how trust and reputation are critical to sellers.

Subject Areas

Business / Family & Consumer Science

Economics

Science & Technology

World History / Geography

Topics

Adam Smith

Central Planning

eBay

Economic Principles

Free Market

Invisible Hand

Prices

Scottish Enlightenment

Supply & Demand

This is a great overview video as far as market-based economics. One student told me that this was also a great review. We particularly enjoyed the conversations about eBay.

Debra Brinkman
Yoder, CO

This DVD, "The Invisible Hand" was an outstanding media for the explanation of a concept often misunderstood by students.

Norman Balliet
Gurnee, IL

It was great lesson that help with understanding Adam Smith and his economic plans.

William Foster
Crossville, TN

Excellent combination of intellectual concepts with reality in the market place.

Linda Townsend
Port Byron, NY

Nice video on the philosophies of free market and Adam Smith. Practical examples of a free market. Liked the discussion on "Man of the System"

Martha Phillips
Raleigh, NC

Excellent video - pitched at the right level and helped generated lively discussion within my Economics class.

Brian Peel
Portland, OR

I absolutely love the way concepts are explained in your videos. Students understand business and economics much better with applied concepts.

Tana Trentham
Gatlinburg, TN

I used this video as an introduction for my students when I introduced Adam Smith to them. It got them excited to find out more about him.

Chris Ho
Singapore,

This video is excellent. Good background and connections to Adam Smith. The bakery scenario shows how competition creates prices and eBay and Gelb Music show how markets can expand. Well done.

Michael Kelley
Fort Worth, TX

A great visual way to explain the free market.

Edmund Michalski
Kansas City, KS

This is a good intro into Adam Smith and his economic therories.

Malinda Hogan
Fredericksburg, VA

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