New Ideas From Dead Economists, Second Coming of Adam Smith (Essay Sample)
Writing Assignments. You will read 1 chapter from New Ideas from Dead Economists beginning with
chapter 2 and write a 1 page single spaced summary answering the following Questions: 1) What did you learn about economic concepts from this chapter? 2) How are these ideas are relevant to today’s economy? Then your answer which should be 3 paragraphs or more.
Adam Smith’s book, The Wealth of Nations, is considered as one of the earliest concrete works on economics. The book bears various concepts of economics that are as true today as they were several years back. The book was majorly meant to reveal the causal laws that can be used to explain how wealth is achieved. In the book, Smith uses the term economic actor to refer to any person involved in any activity. He argued that without understanding the people, constructing economics would be impossible.
Moreover, he argues that human beings possess a drive to better their lives right from the time of birth to the time when they die. To create wealth, nations must utilize this human drive
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