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Episode 2: The Wealth of Nations: A New Gospel?
By Ilan Ziv
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film stillThe CAPITALISM series consists of six (6) episodes on three (3) DVDs that are packaged and sold together as one unit.

Adam Smith published two books in his life. The Wealth of Nations is a global bestseller that has never been out of print, while The Theory of Moral Sentiments is largely forgotten.

This episode of CAPITALISM argues that disconnecting Smith the economist from Smith the moral philosopher has led to tragic distortions that have profoundly shaped our global economic system.

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Divided into easy-to-use sections on the division of labor, self-interest, and the tyranny of control, THE WEALTH OF NATIONS: A NEW GOSPEL lays bare the moral dilemma at the heart of The Wealth of Nations: the human cost of achieving a purely efficient free market system.

This episode convincingly argues that the intellectual foundations of current market economics are largely based on a misinterpretation of Smith's words. It argues that Smith did not favour a completely unregulated free market - in fact, he thought it would be disastrous - and that the underpinnings of contemporary capitalism lie instead in an ideology born in the 19th century, that privileges greed over other equally deep-seated human drives.

Featuring interviews with Noam Chomsky, economist Ha-Joon Chang, and Smith biographer Nicholas Phillipson, among others - as well as archival footage of free market luminaries such as Ayn Rand and Milton Friedman. View the complete list of storytellers.

53 minutes / Color
Release: 2015
Copyright: 2014

For colleges, universities, government agencies, hospitals and corporations

This DVD is sold with a license for institutional use and Public Performance rights.

Subject areas:
Business, Business Ethics, Business and Economics, Economics, Economic Sociology, Europe (West), Globalization, Historiography, History (World), Labor Studies, Philosophy, Political Science, Political Theory, Politics, Sociology

Related Links:
The Storytellers of Capitalism
The Films of Ilan Ziv


Capitalism / Episode 2 / Clip

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