Search results
Learn how Adam Smith explained economic development through division of labour, capital accumulation, and free trade. Find out the aspects, benefits, and limitations of his theory and its relevance to developing countries.
As Marc-William Palen notes: "On the one hand, Adam Smith's late nineteenth and early twentieth-century Cobdenite adherents used his theories to argue for gradual imperial devolution and empire 'on the cheap'.
Jun 15, 2024 · Adam Smith, Scottish social philosopher and political economist who is a towering figure in the history of economic thought, best known for his book An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the first comprehensive system of political economy.
Apr 29, 2022 · Learn about the main ideas of Adam Smith, the father of modern economics, in his influential book The Wealth of Nations. Discover his views on division of labour, labour theory of value, free market philosophy and GDP.
Jun 21, 2024 · Learn about Adam Smith, the 18th-century Scottish philosopher and economist who is considered the father of modern economics. Discover his life, achievements, and his influential book The Wealth of Nations, which introduced the concept of the invisible hand and the division of labor.
Dec 1, 2023 · What is Adam Smith's theory? Adam Smith proposed a labour theory of value, where something has two values: its use value and its exchange value. The exchange value is based on demand, but also the amount of labour needed to produce it and saved by owning it.
Jun 27, 2024 · The Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy.
