Adam Smith Research Papers Samples For Students

Introduction

In the second half of XX century a trend towards scaling up and strengthening the role of the state in the economic sphere. At the same time it is recognized that the highest efficiency is achieved in a competitive market mechanism. Therefore, the state aims to not adjust the market mechanism, and to create conditions for its free operation, providing a high level of competition. Competition should be wherever possible regulatory influence of the state, and wherever it is needed. Most economists converge in the understanding that the "invisible hand of the market" is required to be supplemented by the "visible hand ...

Adam smith was a moral philosopher and a political economist who made significant contributions in various theories of philosophy, as well as economics. His contributions play a crucial role in the modern scholars and learners as they are used as the basis of reference. The economist as well as a philosopher was a university lecturer where most of his research work was conducted. Smith conducted a research on the nature of the wealth of individuals and moral conditions of individuals publishing two books namely, the theory of moral sentiments in the year 1959, and an inquiry into the nature of wealth of nations which was ...

Introduction

In this research paper, concept of Division of labor by Adam Smith is critically evaluated. The concept itself is briefed clearly and precisely. Complex dimensions of Division of labor are seen in detail with including the drawbacks. Real implications in the today’s world are also seen with having examples of institutes and countries where the concept of specialization is applied. There are several benefits related to division of labor or specializations are included in this paper along with the proposed benefits from the author of concept Adam Smith himself. At the end, evaluation of two countries, Germany and ...

The concepts that used in economics are quite varied both in approach and areas that they seek to address. Each of the theories defined in economics has a distinct feature that defines its application. The Labor theory of value is one example of such economic theories. The theory stipulates that the value of commodities is closely linked to the labor that had to be used in producing the commodity. Several economists have provided different in-depth analysis of their understanding and assertion of the concept of labor theory of value. The most prominent of these economists was the 18th century Scottish ...

Is Smith, Leon and Keynes Contributions Relevant in Today’s Market Concept?

Abstract
This study involves studying, investigating, and analyzing various economic theories, how they relate to each other, and their relevance to modern market concept. The contributions of economic thinkers like Adam Smith, Leon Walras, David Ricardo, John Stuart Mill, Thomas Malthus, Jean-Baptiste Say, and John Maynard Keynes played a lot on what we have today. As the world of market and economics continues to be more complex, some of the ideas of these great economists have ceased to be operational. It all started with classical economics. The Era of “The Wealth of Nation” by Adam Smith in 1776 marks ...

Adam Smith, David Ricardo and Thomas Robert Malthus

Abstract
In this paper, we have combined the classical analysis of development and growth with that of luxury consumption. We have also focused on the role played by landlords and labors in the classical economic theories. We have also discussed the other classical economic factors like property rights and contractual agreements in determining fresh investments in agriculture and consumption/growth patterns. Further, we discussed the classical consumption and growth theory of Smith and how that is different from that of the more neo-classical economists like Ricardo and Malthus. The paper also discussed the supply based economic growth model of ...

Introduction

Over the years, several researchers have consistently argued that religion play a bigger role in any form of economic development (Neill, 2010). Some have pointed out to the issue by claiming that the role is quite conspicuous and cannot be overlooked, well, the subject remains an issue of controversy; it attracts diverse opinions from all walks of life. However, several inquiries into the study have indeed pointed towards the direction, above all, they conclude by citing a close proximity between religions and the economic spur (Michael, 2012).
Most importantly, some of these researchers have proposed that the topic of ...

Adam Smith

Adam Smith is a renowned economist who has accomplished three great things. The first great accomplishment of Smith is the definite substitution of income for the older idea of a capital aggregation of “treasure”. His second accomplishment is the use of wealth per head in lieu of wealth in the aggregate. His third great accomplishment is the approval of working, investing and trading for personal gain (Phillipson 21). Smith is a phenomenal economist who tried to show that there was one element at the basis of all the rest of the members of society, which is the competition. Although he considered the ...

Adam Smith is a Scottish economist and philosopher who was born in an area called Kirkcaldy in the year 1723. However; his actual date of birth is unknown. His father died when he was still a young boy, but his mother ensured he went to school. He performed quite well in school. His main areas of study were Latin, history, and mathematics. His exemplary performance earned him a scholarship at the University of Glasgow to study moral philosophy. He continued excelling in university and obtained another scholarship to study in Ballion College at the Oxford University. However, after a ...

Abstract

The paper focuses on the development of taxation based on contributions of Ricardo, Smith and Petty. They both developed the taxation idea from Locke’s theory of a single tax on rent. Their major contribution was on the incident tax, which demonstrates value system, power relations and group interests on taxation. Finally, the paper analyzes how taxation influences economic decision in the 21st century.

Introduction

The development of political economy in the 17th century was characterized by an effort to flee from Locke’s theorem that all taxes would eventually fall on the rent of land as well as his proposal ...

History Questions

The council of Trent was the most important councils in the history of Roman Catholic Church. It took place between the years 1545 to 1563 (Jedin, 2008). It was on and off three times between these periods. It created new rules for the church and eliminated vices that pulled the church down for example the sale of excesses and corruption. Other changes that took place included the holy mass, holy orders and clergy education, the marriage sacrament, and other decrees regarding the church. The council involved Jesuits, papal supporters, delegates of Italia, and even protestant representatives (Jedin, 2008). These ...

Trade played a significant role as a factor of economic growth in the establishment and development of the economy. In terms of emerging economy the meaning of foreign nation’s welfare increases. Such economy evolves under the influence of globalization, which implies a special role of foreign trade. This is due to the fact that the traditional comparative advantages, such as the difference in the allocation of countries of production factors, monopoly on natural resources and geographical conditions, and those associated with innovation processes, new technologies, with the choice of the consumer, its level income. At the same time ...

Classical model of the economy has weaknesses that Keynes took advantage of to come up with the Keynesian model. In the classical view of the economy, the belief is that the market will always tend towards providing full employment and that people were satisfied with what the real world is described to be (Caporaso, 1992). However, this belief could not hold any water when the Great Depression started in the economy. It was at this time when economists wanted a more rational way of formulating economic policies. The operations of the market in the view classical theorists failed to sustain ...

Both Karl Marx and Theodor W. Adorno are Germany philosophers who made significant introspective examination of sociology and other significant studies that are of significant value to society. Karl Marx was born in 1818 in Trier, Germany. Marx schooled in Trier from 1830 to 1835 and he later went Bonn University where studied law. While at Bonn Marx had most of his time spent in running large debts in addition to socialization. Though majority of the people in his birth town were Catholics being of Jewish dialect, Marx chose to be a protestant. Marx later moved to Berlin University where ...

Executive Overview

Total Asset Relief Program (TARP) is a program by the United States government geared towards purchasing of assets and equity from various financial institutions with the aim of strengthening its financial sector. This program was signed into law by the United States president George W. Bush in 2008. During that year, the government came up with this program to address the subprime mortgage crisis in the state. Initially, TARP authorized an expenditure of $ 600 billion. However, the mount was reduced to $475 courtesy of Dodd-Frank Wall Street Reform and Consumer Protection Act. The stimulus program of Total Asset Relief Program ( ...

Introduction

An initially challenge faced by any scholar attempting to study neoliberal ideology in more detail is the apparent lack of written literature on neoliberalism from a neutral or sympathetic point of view. In real sense, everyone writing about the ideology do so as part of a critique of the ideology. According to this critical analysis, neoliberalism refers to the rejuvenation and spread of one specific aspect of liberal tradition, namely economic liberalism. Funder mentally, economical liberalism refers to the notion that states should abstain from intervening in the economy, and instead leave space for individuals to participate freely in self-regulated markets. ...