Classical Economist - Adam Smith
Beginning of paper
Often called the founder of modern economics, Adam Smith, born in Kirkcaldy, Scotland, June 5, 1723, was a wide-ranging social philosopher and economist whose masterwork, "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), is one of the most influential studies of Western civil ....
Middle of paper
.... "People of the same trade," he wrote, "seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some
contrivance to raise prices." He suggested, however, that businessmen seeking their own interest are led "as if by an invisible hand" to promote the well-being of society.
Smith's Analysis of Economic Systems
This position is supported in the Wealth of Nations by an elaborate analysis of how economic systems function ....
------------------
Word count: 933
Page count: 4 (approximately 250 words per page)
