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Unformatted text preview: which they are skilled, which will raise productions and benefits; basis how great wealth is created Most of the time, somebody else is making things for you (buy your own clothes, dont make them) Tendency to exchange leads to specialization If we are going to exchange, you need to have something to give to that person Pg. 16 of book wealth of nations, pg 9 cp You give me what I want, Ill take care of getting you what you want Make sure you can convey to employer what you can do for them--what you will contribute in their organization Driven my self interest, natural tendency to exchange If each one of us pursues our own self interest, outcome will be best possible situation for society as a whole-- Invisible Hand Protectionism: If you have to pay people 7.50 what you would for 5, hire less ppl World has changed since Adam Smith wrote this...
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- Winter '09