This preview shows page 1. Sign up to view the full content.
Unformatted text preview: resource, when educated. “Teach a person to start a fish farm, and he or she will be able to feed a village for a lifetime” Growth Economics and Adam Smith Smith envisioned creating more resources so that everyone could become wealthier. “Freedom” was vital to the survival of any economy, especially the freedom to own land or property and the freedom to keep the profits from working the land or running a business. People will work hard if they have incentives for doing so. How Business benefit the community “Invisible Hand” that helps the economy grows and prosper through the production of needed goods, services, and ideas. “Invisible Hand” turns self directed gain into social and economic benefits for all...
View Full Document
This note was uploaded on 02/10/2012 for the course MGT 101 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10