Welcome to the first-ever episode of The Invisible Hand Seller Podcast! Not only will I be talking about the tools to become a better seller on Amazon, Ebay or even your own web property but I want to look at things from a macro economics vision. Why, what we do keeps the engines of commerce humming in the country. (Please note:  A correction from my audio podcast: Adam Smith was from the 18th century, not 19th century!)
Why Adam Smith is important
Adam Smith (1723-1790) was a Scottish philosopher and economist who is best known as the author of An Inquiry into the Nature and Causes of the Wealth Of Nations (1776), one of the most influential books ever written.
The productivity of free exchange
Smith showed that this vast ‘mercantilist’ edifice was folly. He argued that in a free exchange, both sides became better off. Quite simply, nobody would trade if they expected to lose from it. The buyer profits, just as the seller does. Imports are just as valuable to us as our exports are to others.
Because trade benefits both sides, said Smith, it increases our prosperity just as surely as do agriculture or manufacture. A nation’s wealth is not the quantity of gold and silver in its vaults, but the total of its production and commerce – what today we would call gross national product.
The Wealth of Nations deeply influenced the politicians of the time and provided the intellectual foundation of the great nineteenth-century era of free trade and economic expansion. Even today the common sense of free trade is accepted worldwide, whatever the practical difficulties of achieving it.
Citation: Adam Smith Institute
The Show and Website Title
This show will discuss selling on Amazon and Ebay as well as your website and the content strategies needed to drive traffic to these properties.  There will be special guest interviews and such.  However, we already have great podcasts on selling on Amazon so I want to take it to a macro level and discuss why and the importance of the things that we do.
The Invisible Hand: I am not going to a long explanation into why I named it after this term. I will let this quote from Adam Smith tell you.
Definition: The unobservable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically is the invisible hand.
Description: The phrase invisible hand was introduced by Adam Smith in his book 'The Wealth of Nations'. He assumed that an economy can work well in a free market scenario where everyone will work for his/her own interest.
Absolute Advantage
Definition: Absolute advantage is the ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service. Entities with absolute advantages can produce a product or service using a smaller number of inputs and/or using a more efficient process than another party producing the same product or service.
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