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Tag Archives: Critique of Adam Smith

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Critique of Adam Smith

HistoryBy William Anderson (Schoolworkhelper Editorial Team)October 9, 2010Leave a comment

It has been argued that Adam Smith articulated two essential attributes in the economic system that was not yet fully born in his time: 1. A society of competitive profit-seeking individuals can assure its orderly material provisioning through the self-regulating market system. 2. Such a society tends to accumulate capital, and in doing so enhances…

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