Nogales, Arizona (right) and Nogales, Sonora (left)
On this episode of the podcast, we continue our discussion of Adam Smith. First, we look at two towns with the same name on opposite sides of the US-Mexico border, and consider why their residents have such markedly different standards of living. Next, we ask ourselves what determines a nation’s wealth, which leads us to a discussion of Mercantilism and its various pitfalls. Finally, we learn about Adam Smith’s response to Mercantilism and how his ideas relate back to the two cities from the beginning of the episode. All this and more on the latest episode of Philosophize This!
See the full transcript of this episode here.
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Additional Stuff For Anyone Interested:
Bio of Adam Smith: http://www.econlib.org/library/Enc/bios/Smith.html
Awesome Community Surrounding his Philosophy: http://www.adamsmith.org/
Great writeup by Investopedia: http://www.investopedia.com/articles/economics/08/adam-smith-economics.asp