Adam Smith
Páginas: 2 (374 palabras)
Publicado: 3 de octubre de 2011
adam smith
(1723-1790)
Ideas
- Nature provide a basis in sentiment for virtue. - When we adopt the role of impartial spectators, sympathy is the sentiment that is the basis for moral judgments.- Acting from a sense of duty corrects for any lack of appropriate sentiment in particular instances. - The deity has implanted powerful instincts (passions), which lead us behave in ways that areultimately beneficial for all. - Self-interest coupled with the predisposition to 'trade', 'barter', and 'exchange' provides a basis for the division of labor and economic development. - In a market freefrom monopolies and self-serving public policies, competition among the self-interests of isolated consumers and producers produces a stable and expanding economy. - The self-interested pursuit ofwealth may not be individually satisfying but leads to an aggregate increase in wealth that is in the best interests of a nation.
Biography
Adam Smith was an important Scottish political philosopherand economist whose famous work Wealth of Nations (1776) set the tone for work on politics and economics for many people even through today. This was, in fact, the first comprehensive effort to studythe nature of capital, the development of industry and the effects of largescale commerce in Europe. Adam Smith's fundamental argument was that individuals should be allowed to pursue their ownprivate economic interests as much as possible and so long as they do not violate basic principles of justice. In this way, Smith thought, they would do much more to further the public good and publicinterests than if the same people were to try to
help the public deliberately and intentionally. Smith called this the invisible hand of the market - although everyone is acting in their ownself-interest, they are led to achieve the good of all as if by an invisible hand of economic forces. Therefore, outside interference will inevitably lead to disaster. This became known as laissez-faire...
(1723-1790)
Ideas
- Nature provide a basis in sentiment for virtue. - When we adopt the role of impartial spectators, sympathy is the sentiment that is the basis for moral judgments.- Acting from a sense of duty corrects for any lack of appropriate sentiment in particular instances. - The deity has implanted powerful instincts (passions), which lead us behave in ways that areultimately beneficial for all. - Self-interest coupled with the predisposition to 'trade', 'barter', and 'exchange' provides a basis for the division of labor and economic development. - In a market freefrom monopolies and self-serving public policies, competition among the self-interests of isolated consumers and producers produces a stable and expanding economy. - The self-interested pursuit ofwealth may not be individually satisfying but leads to an aggregate increase in wealth that is in the best interests of a nation.
Biography
Adam Smith was an important Scottish political philosopherand economist whose famous work Wealth of Nations (1776) set the tone for work on politics and economics for many people even through today. This was, in fact, the first comprehensive effort to studythe nature of capital, the development of industry and the effects of largescale commerce in Europe. Adam Smith's fundamental argument was that individuals should be allowed to pursue their ownprivate economic interests as much as possible and so long as they do not violate basic principles of justice. In this way, Smith thought, they would do much more to further the public good and publicinterests than if the same people were to try to
help the public deliberately and intentionally. Smith called this the invisible hand of the market - although everyone is acting in their ownself-interest, they are led to achieve the good of all as if by an invisible hand of economic forces. Therefore, outside interference will inevitably lead to disaster. This became known as laissez-faire...
Leer documento completo
Regístrate para leer el documento completo.