Summary – An Inquiry into the Nature and Causes of the Wealth of Nations_Notes

Summary – An Inquiry into the Nature and Causes of the Wealth of Nations_Notes

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Summary – An Inquiry into the Nature and Causes of the Wealth of Nations – Adam smith Introduction and the plan of the work Thesis: o Labor supplies fund in which are necessities and conveniences of life. People produce things that they use to survive or purchase from other nations o The two facets that make up this fund are the skill, dexterity, and judgment of the labor applied and the proportion between those who are employed in useful labor and those who are not. o ? Of the Principle which gives Occasion to the Division of Labor Thesis: division of labor derives from propensity to exchange one thing for another and barter in order to get what we need. Argument: man always needs cooperation from other man because they have things that man wants or needs. Charm the other person; let them see the advantage of exchanging with you in order to get what you want. This need for things creates the division of labor – people specialize in what other people need. Every man applies himself to a particular
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/20/2009 for the course DSOC 1101 taught by Professor Hirshel during the Fall '07 term at Cornell University (Engineering School).

Ask a homework question - tutors are online