The wordly philosophers: adam smith
THE WORDLY PHILOSOPHERS: ADAM SMITH
Chapter 3 of Heilbroner (In Reserve Library)
Short answer questions
Who was Adam Smith? Briefly explain.
Why did the author, Robert Heilbroner, say that the Wealth of Nations was a “revolutionary book”? Briefly explain your answer.
What are the 2 great economic problems that Adam Smith discusses in the Wealth of Nations? Briefly explain.
What is the role of government in a market society, according to Smith? Briefly explain your answer.
According to Adam Smith, how does a capitalist society hang together, i.e. coordinate its economic activities? Explain and illustrate your answer with examples.
According to Smith, why and how does a capitalist society experience economic growth? Explain (you also need to discuss the process in your answer).
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