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Adam Smith
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Some say he was absent-minded or even oblivious, but I rather like to think of it as frequent states of profound thought. The man I refer to is and after having read the assigned excerpts and a few other passages from his The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations I not only hold h .... Middle of paper
.... would automatically produce what the people demand. He knew this would work be more effective and efficient than any governing body or groups of planners to decide the Three Economic Problems: What to produce? How to produce it? For whom to produce? He knew because the people, the consumers would be making those decisions for themselves. Smith also noticed that self-interest lead to increased trade and bargaining. “It is in this ma ....
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Number of words: 814
Number of pages: 3 (approx. 250 words per double-spaced page)
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