Day 3: Adam Smith of Karl Marx?

Why do people say that history is writing in every single moment? You`re about to find out why!

Welcome to my third day in London. Courses occupied a great amount of time, studying capitalism, socialism and also, the history of the present times. Have you ever heard about Antonio Rimsci? He was one of the first people to discuss and implement the characteristics of capitalism, without giving this concept a name. Do you know what is mercantilism? It is an economic theory and practice to increase one nation`s wealth?


Interested? Here we go, then!

This is the pyramid of capitalist system, an American cartoon caricature. Can you name another satire of the concept implemented by Adam Smith? You`re right – Karl Marx with Das Kapital. Now, we`ll move to different capitalist systems. For instance, the idea of Max Weber, a renowned sociologist who thought that every economic interaction is a social interaction. Or the perspective of Keynes, important economist.

Wait, there`s more!

We have also learned the difference between a commercial bank and an investment one. And above all, about the Great Depression from 1929 caused by successive withdrawals. After that, we dug into institutional economies (which considers both the political and the social part) and neoclassical economies (which reject the labor theory of value).

But, the peak of the sessions was the question our teacher addressed to us: if I gave you 100.000 pounds, what would you do with them? This basically can determine whether you are a left or a right wing – are you more oriented on you or the society? Now, let`s go back to my first question about history. We discussed in the class about Belt and Road Initiative (BRI), which is a strategy proposed by Chinese President Xi Jinping that focuses on a cooperation between Eurasian countries. It is under construction and the common wish is to be bigger than European Union. This was one of the most talked matter in 2016, in case you didn`t know.

The teacher also recommended us a movie – The man who knew Infinity which stars Lion leading actor, Dev Patel.

The afternoon activity was boating in Hyde Park. It was so fun! The park also offers various recreational activities including open water swimming, cycling, tennis and horse riding. Hyde Park covers 350 acres and is home to a number of famous landmarks including the Serpentine Lake, Speakers’ Corner and the Diana, Princess of Wales Memorial Fountain.

And until tomorrow, here are some pictures:




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