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The Invisible Hand

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

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
All - 4,6,9,10
Homeschool, Yoder, CO

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

Norman Balliet
Economics - 11,12
Homeschool, Gurnee, IL

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

William Foster
Social Studies - 9
Cumberland County High School, Crossville, TN

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

Linda Townsend
Other - 10
Dana L. West High School, Port Byron, NY

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