Adam Smith's Argument Against Capitalism

The argument of the “invisible hand” by Adam Smith simply states the best economic outcome can only be produced if a citizen looks out for their own personal interest and economic gains are resulted through that interest. This “Channel One” is extremely beneficial to capitalism in that not only are the schools receiving free television sets, but the students are also gaining knowledge about current events in the world. A survey taken by the school indicated that not only did the students learn more about events around the world, they knew even more than those who did not watch these programs. If these marketing programs were taken away, then obviously the students would no longer gain any knowledge and their personal view would not be molded based on the information they would have received. …show more content…
Adam Smith theorizes that as humans we should already be knowledgeable about the market structure and prices, when in fact most of us are not. The material being provided to the students may be false and influencing them in a non-positive way, warping them into thinking something that is completely false. If the students weren’t being taught these things’ then obviously they wouldn’t be influenced in such a negative way. Some people would also disagree and say this material isn’t influencing the students, unfortunately this isn’t the case, if someone is fed information from one source and only that source they aren’t getting the broad spectrum of information that we as humans rely on. The use of these materials clearly influences these people in a way even they do not