Question

use or quote Adam's Smith book ' the wealth of nations in an opening statements for a presentation. or in a debate .

Answer 1

The central thesis of Smith's "The Wealth of Nations" is that our individual need to fulfill self-interest results in societal benefit, in what is known as his "invisible hand"."Wherever there is great property, there is great inequality." "It is not from the benevolence of the butcher, the brewer or the baker that we expect to eat our dinner, but from their regard to their own interest."To prohibit a great people, however, from making all that they can of every part of their own produce, or from employing their stock and industry in the way that they judge most advantageous to themselves, is a manifest violation of the most sacred rights of mankind.This statement, in which the “great people” Smith is referring to are those subjects of the British crown that will, a few years later, become the first American citizens, is telling. Not only does the quote display Smith's belief that free trade constitutes one of the fundamental rights of man—a belief which, whether held by Smith or not, would come to be very important in the self-conception of the young Republic—the quote also foreshadows the fact that the major disputes between the Crown and its American colonies were economic. Smith's economic theory is ahead of its time in a number of ways. This statement in particular, however, had it reached the right ears, might have changed the course of history.Without the assistance and co-operation of many thousands, the very meanest person in a civilized country could not be provided, even according to, what we very falsely imagine, the easy and simple manner in which he is commonly accommodated.The quote captures Smith's description of the complexity and scope of the division of labor, and its ability to increase the standard of living in a given society. Smith believes that the propensity to truck, barter and exchange is part of human nature, and it is precisely this capacity that best organizes the economic system in large scale societies. The cooperation of the many thousands, inspired by each person's self interest, is what allows for the economic system to flourish, spreading opulence and raising the overall quality of life. Since observations on the progress inspired by the division of labor begin the book, Smith uses the contemplation of simple items (pins, for instance) as a starting point for his theorizing on the organization of economics in general.The Wealth of Nations argues three basic principles and, by plain thinking and plentiful examples, proves them. Even intellectuals should have no trouble understanding Smith's ideas. Economic progress depends upon a trinity of individual prerogatives: pursuit of self-interest, division of labor, and freedom of trade.