
Adam Smith—The Father of Economics | Economic Game Changers | PragerU

Before the American Revolution, Great Britain powered a global empire through mercantilism—an economic system that enriched the crown at the expense of overseas colonies. But one Scottish thinker had a better idea: capitalism. In this episode of Economic Game Changers, teens meet Adam Smith, the “father of economics.” From trade to limited government, they’ll learn how Smith’s thinking struck a blow to the old system and laid the foundation for free markets.
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Video Summary
AI GeneratedThis video explores the origins of modern economic thought, focusing on the transition from the restrictive British mercantilist system to the foundational theories of Adam Smith. It examines how the Industrial Revolution and Smith's 1776 work, \"The Wealth of Nations,\" shifted the global understanding of wealth from gold hoarding to productivity and free markets.
