On Adam Smiths`wealth Of Nation`

p ADAM SMITH : THE WEALTH OF NATIONS The greatest benefit in the productive powers of labor , and the greater part of the skill , dexterity , and judgment with which it is any where directed , or use , seem to have been the effects of the division of labor This is the inaugural paragraph excerpted from Adam metalworker s The Wealth of Nations . Adam Smith is regarded as the Father of Modern Economics , and the Father of capitalism . Smith s most famous work , The Wealth of Nations was the firstly systematic attempt to explain the workings of the economy in market terms , emphasizing the importance of the division of laborThe thoroughgoing element in Smith s viewpoint is his focus on the importance of the free market in ensuring the highest level of quality of commodities at the lowest prices . Smith s philosophy is that human beings argon naturally mortalistic .

He furthers political theories that punctuate the individual , and proclaims the worth of each individual . He believes that human beings will interact most effectively when they live in a society of economic freedom , with individualistic philosophies that tend to emphasize what people toilette do as individuals not what they can do as groups . In The Wealth of Nations , he states that : In a free economic system , an individual is guide by an invisible hand to promote an end which was no part of his intention .By pursuing his own interest , he frequently promotes that of the society more effectually than when he very intends...If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper