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Submitted by izzet on October 30, 2005
Category: English
Words: 2543 | Pages: 11
Views: 201
Popularity Rank: 38,650
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CONTENTS
INTRODUCTION
PART 1: THE LIFE OF ADAM SMITH
„Ï His life and influences
PART 2: ¡§WEALTH OF NATIONS¡¨
„Ï A brief summary of the book
„Ï Ideas presented in the book
CONCLUSION
Selim Eren Yener
20300817
THE HISTORY OF CIVILIZATION
¡§ADAM SMITH AND MERCHANTALISM¡¨
NESLIHAN SENOCAK
INTRODUCTION:
Obviously, the term capitalism comes from the word capital. Capital is the money someone has. So capitalism has to do something with money. Simply we can define capitalism as making more money from the starting capital. The economicians claim that there are three distinctive features of this making more money process, which divides capitalism from other economic models. They are: ¡§Private ownership of property, pursuit of personal profit, and free market idea¡¨1 All of these three ideas were developed for the first time by the Scotch Economican, Adam Smith, so he is considered as the founder of the capitalist economy although he has never mentioned the word capitalism in his books.2
In this essay, I will discuss Adam Smith in two parts; in the first part I will talk about Smith¡¦s life and the purpose of this is that, some particular events played very important roles on Smith to write his famous works. In the second part I will focus on Smith¡¦s famous book, ¡§Wealth of Nations¡¨ and discuss the important terms that are given in this book.
1: John j. Macionis, Sociology, 9th edition. (New Jersey: Pearson Education Inc. 2003), 415.
2:Micheal Fray, Adam Smith¡¦s Legacy. (London:Biddles Publications, 1993),...
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