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Adam Smith 2
Part 1 of Paper
....at the universities of Glasgow and Oxford.
In 1751 he became a professor at Glasgow. There he wrote The Theory of Moral Sentiment in 1759. This philosophical work gained Smith an appointment in 1764 as tutor of the young duke of Buccleuch. The tutoring took Smith to France, where he started writing The Wealth of Nat.... Part 2 of Paper
....individualism led to order and progress. In order to make money, people produce things that other people are willing to buy. Buyers spend money for those things that they need or want most. When buyers and sellers meet in the market, a pattern of production develops that results in social harmony. Smith said that all this would happen without any conscious control or direction, “as if by an invisible hand.”
Smith also believed that labor, not land or money, was both the source an.... |
| Number of words: 517 - Approximate pages: 2 |
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