Saturday, August 14, 2010

Can You Pull Of Pinguecula

The expression of classical liberalism


Adam Smith (1723 - 1790), was an economist and philosopher (Moral Philosophy included economic issues), Scotland, one of the greatest exponents of classical economics. He served as Controller of Customs and in 1778 accepted the appointment of Commissioner of Customs, to the end of his days (1790).
His work: (1776) Essay on the Nature and Causes of the Wealth of Nations, which holds that wealth comes from work (the division of labor, in time, it deepens as it extends the length of the market and hence the major). The book was essentially a study about the process of creation and accumulation of wealth, were dealt with by the mercantilist (rich source of foreign trade) and Physiocrats (source of agricultural wealth.) A peculiarity of the work is the argument that by appealing to the selfishness of individuals achieved the general welfare.
As for "The Invisible Hand" of Adam Smith's belief in the natural balance of motivations led to his well-known principle that the individual seeking their own benefit and as led by an invisible hand reaches or promotes an end which was not on purpose.

The major contributions of Adam Smith are:
"The clear distinction between use value and exchange value.
"Work is the source of wealth, this will depend to A. Smith's level of labor productivity and the amount of useful work, and this leads him to study the division of labor, defined as specialization of tasks, to reduce production costs.
"The potential conflict between factory owners and workers ill employees.
-capital accumulation as a source for economic development.
"The government intervention is harmful in human affairs. The government should only intervene in three areas: 1) Defense, 2) Good administration of justice; 3) Hold public works and institutions that would not have the attention of the private sector. Its position on public finances and especially on public expenditure, are considered legitimate without deviating from its general view on the role of the state. Defense
-competitive market the most efficient allocation of resources.


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