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Вопрос 4. Как сделать так, чтобы вас уважали и ценили?
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Adam Smith’s Market Economy
The former Scottish professor of philosophy at the University of
Glasgow published a monumental book entitled An Inquiry into the Na-
ture and Causes of the Wealth of Nations. Usually known simply as The
Wealth of Nations, it is an eloquent statement expounding a doctrine of
The book earned Smith the epithet “the founder of economics” be-
cause it was the first complete and systematic study of the subject. Smith
argued that individuals know best what is good for them. If unrestricted
by government controls or private monopolies, people will be motivated
by the quest for profit to turn out the goods and services that society
wants, people (businesses) will be led as though by an “invisible hand”
to attain the greatest economic good for society. In other words, if each
person (or business) is free to work at maximizing his or her economic
rewards, the economy will prosper. Consequently, through free trade and
free markets, self-interest will be harnessed to the common good.
Adam Smith’s theory that the government should not interfere with
business is known as laissez-faire capitalism. This French term came
about when a French businessman responded laissez nous faire (“leave
us alone”) after being asked how government could help business. This
principle of pure capitalism as Smith saw it has been modified within
most modern economies
Through his approach to economic questions and his organization
of the science, Smith cast a mold for the main body of nineteenth-
century economic thought. His views on public policy, which became
the semiofficial doctrine of the British government, left their imprint
on parliamentary debates and governmental reports. For these reasons,
and because of his enormous influence upon succeeding generations of
scholars, Smith’s unique position in the history of economic thought is
Reading The Wealth of Nations today, one can see why the influence
of this book reached out beyond the borders of economics. Like the Bi-
ble, Smith’s treatise contains familiar concepts and well-worn truths on
almost every page. As a result, “the shy and absent-minded scholar,”
as Smith was affectionately called, became the apostle of classical eco-
nomic liberalism—meaning laissez-faire in his time. Today we tend to
refer to such ideas as “conservatism.”
Smith’s version of the economic system as a naturally self-organizing
and self-adjusting “social mechanism” – known as classical economic
doctrine was never confirmed by factual evidence, as Newton’s laws
of motion were; all the same, classical doctrine dominated economic
thinking and national economic policy in all advanced economies for
the next 150 years, and it plays its role in many countries to this day.
Read the text. Be ready to answer the following questions: 1. What is demand? 2. What
is supply? 3. What does the demand (supply) curve represent? 4. What does the inter-
section of the industry supply and demand curves establish?
Date: 2015-12-13; view: 186; Нарушение авторских прав