p ADAM SMITH : THE WEALTH OF NATIONS The greatest make in the productive powers of labor , and the greater trigger of the readiness , dexterity , and judgment with which it is any where directed , or recitation , seem to have been the effects of the division of labor This is the maiden paragraph excerpted from Adam metalworker s The Wealth of Nations . Adam metalworker is regarded as the Father of Modern Economics , and the Father of capitalism . Smith s most famous work , The Wealth of Nations was the for the first time systematic attempt to explain the workings of the economy in market terms , emphasizing the importance of the division of laborThe complete element in Smith s viewpoint is his focus on the importance of the free market in ensuring the highest level of select of commodities at the lowest prices . Smith s philosophy is that human beings atomic number 18 naturally mortalistic .
He furthers political theories that punctuate the individual , and proclaims the expense of each individual . He believes that human beings will act most effectively when they live in a fellowship of economic freedom , with individualistic philosophies that tend to emphasize what hatful 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 i nterest , he ofttimes promotes that of the s! ociety more effectually than when he very intends...If you deprivation to get a full essay, order it on our website: OrderCustomPaper.com
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