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Adam Smith

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PRESENTATION OUTLINE

1.

ADAM SMITH

June 16, 1723-July 17, 1790
2.

AREA OF CONTRIBUTION

  • Economic theory
3.

MAJOR PHILOSOPHICAL CONCEPTS

  • Tendency of free markets to regulate themselves
  • Compensating wage differentials
  • "An Inquiry into the Nature and Causes of the Wealth of Nations" -1776
4.

MAJOR PHILOSOPHICAL CONCEPTS CONT.

  • Criticized the policies of mercantilism
  • Encouraged reduction of tarrifs
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SOURCES

Wikipedia.com

Aubrie W.