The Wealth Of Nations By Adam Smith

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Adam Smith, the author of “The Wealth of Nations”, was a Scottish moral philosopher during the Industrial Revolution who was inspired by his surroundings to write about the field of economics. Being a man of intellect on various types of philosophical views, Smith was able to portray his passionate feelings about political thought through his well-written works. While publishing his book, Smith became known as the “father of modern economics”. He was given this honorary title due to his strong determination of trying to understand how human nature impacts the social order. Smith was able to use several types of rhetoric styles, such as particular word choices and language, in order to captivate the attention of various types of readers. By…show more content…
This reliance on assumption is demonstrative of Smith’s relationship between reason and sentiment. Whereas he uses reasoning to form sentiment, yet much of his sentiments stem from broad assumptions.
The step from having some goods and needing others to trading with those who have the needed goods and want the overabundant ones cannot be understood or warranted without the presumption of a rational actor. Smith does not blatantly state this and on occasion refers to the development of capitalism as guided by an “invisible hand.” Yet, every development towards improved efficiency, if these are anything more guided than random evolutionary steps, require such an actor to instigate it. More so Smith is suggesting that human reason is the catalyst for trade. The ability to reason is the singular factor that allows for the development of a free market system.
The divisions of labor must be controlled by a rational actor; such notions are arguably the mechanisms’ of “self-love” acts as an actor which drives the capitalist machinery. The example of the pin-maker illustrates this point. Lastly, Smith instills “a certain propensity in human nature; the propensity to truck, barter, and exchange one thing for another.” This, he suggests, may simply be an extension of reason. It is this final, and most specific, the penchant of human nature that ensures a vague sense of
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