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Unformatted text preview: philosophy. In the first of his two major works (1759), Smith wrote that human nature is inherently compassionate and cooperative. Because of this nature, Smith believed that we are capable of producing great wealth. Smith published his second major work in 1776, . In it he proclaimed that individuals are led by an invisible hand to pursue self-interests and create a wealthy, productive economy. The list on the left addresses some of Smiths concerns. These scenarios are certainly possible in the real world, but Smith believed that human nature without government intervention is capable of producing great wealth....
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This note was uploaded on 06/18/2011 for the course ECON 101 taught by Professor Vicek during the Spring '11 term at Parkland.
- Spring '11