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Adam Smith

Although the exact date of Smith's birth is unknown, his baptism was recorded on 16 June 1723 at Kirkcaldy.A Scottish moral philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Adam Smith is widely cited as the father of modern economics.

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Vlad Shvetsцитує7 місяців тому
Men are much more likely to discover easier and readier methods of attaining any object, when the whole attention of their minds is directed towards that single object, than when it is dissipated among a great variety of things.
Vlad Shvetsцитує7 місяців тому
"When wheat is at twelve shillings the quarter," says an ancient statute of Henry III. "then wastel bread of a farthing shall weigh eleven shillings and fourpence".
Vlad Shvetsцитує7 місяців тому
The word VALUE, it is to be observed, has two different meanings, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys.

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  • Adam Smith
    The Wealth of Nations
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