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Classical Economist - Adam Smi
Part 1 of Paper
...., was a wide-ranging social philosopher and economist whose masterwork, "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), is one of the most influential studies of Western civilization.
Smith's intellectual interests were extensive. He wrote an important philosophical treatise, "The Theory of M.... Part 2 of Paper
....o promote the well-being of society.
Smith's Analysis of Economic Systems
This position is supported in the Wealth of Nations by an elaborate analysis of how economic systems function and develop over time. Smith sought to show how competition in the market- place would lead businessmen to supply the goods consumers want, to produce these goods efficiently, and to charge only what they are worth. He saw monopoly, whether private or state-imposed, as the evil to be combated, and competition as.... |
| Number of words: 933 - Approximate pages: 4 |
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