Adam Smith and Markets

by Nicholas ScarmozzinoComparative Advantage, Economic History, MicroeconomicsPosted on Comments are Disabled

Season 6, Episode 4: Tyrion Lannister explains to Grey Worm that he does not blindly trust their opponents and states “I don’t trust the men, I trust their self-interest.” This relates directly to the thinking of famed economist Adam Smith and his writing on self-interest and the foundations of markets in The Wealth of Nations.

Markets vs. Plundering

by Nicholas ScarmozzinoEconomic History, Free Trade, MacroeconomicsPosted on Comments are Disabled

Season 2, Episode 3: Theon argues for cooperation and gains from trade, his father argues for seizing land and not doing anything productive. This is a good example of how wealth was gained throughout history vs. how wealth is primarily gained now. Most of the rich people in the world now gain their wealth through …

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