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the wealth of nations

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โˆ™ 2011-02-08 14:40:26
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Q: What did Adam smith invent?
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Adam Smith what is he most known for?

Adam smith...........


Who is Adam smith-?

Which one? You probably mean the Scottish philosopher/Economist. He is most famous for defining modern economic theory in a book called "Wealth of Nations" See:http://en.wikipedia.org/wiki/Adam_Smith_%28disambiguation%29 In a roundabout way (as a result of the aforementioned philosophy/book) he is respensible for booms and busts and all the greed that causes the cycle to go from one to the other!


What has the author Lilian Adam Smith written?

Lilian Adam Smith has written: 'George Adam Smith'


What Christmas items did Tom Smith invent?

Christmas Cracker is Tom Smith invent.


Where was Adam Smith born?

Adam Smith was born in Kirkcaldy, Scotland.


How old was Adam Smith when he died?

Adam Smith was 62 when he died


Who is on the back of a 20 pound note?

Adam smith


Who was Adam smith-?

Adam Smith is famous for being the first to develop the theory of supply and demand, in his famous work The Wealth of Nations. It was published at the end of the 18th century (1776). As an example, he compares water and diamonds. Without water, a human will die within days, and yet water is basically free. Diamonds are totally unneeded for survival, but are expensive. This was called the "paradox of value." He explained this by considering the relationship between price and supply. Although all people need water, there is a sufficient amount to cover this need cheaply; not all people need diamonds, but there are not enough to go around, and they are expensive to mine, so the price is high. The term "invisible hand" was used by Smith to describe the idea that individuals working in their own self interest will also work in the interest of the general welfare, by ensuring that the right goods are getting to the people who need them the most. This is a central tenant of free market economics. Adam Smith was a lawyer and civil servant. He had a lot to do with the abolition of slavery. Adam Smith was an economist and a philosopher.


When did Adam smith die?

Janet Adam Smith died in 1999.


Adam smith's parents names are?

Adam Smith shared is father's name of Adam Smith and his mother's name was Margaret Douglas.


Adam smith's law?

Adam Smith stated the law of supply and demand.


What is Adam Smith's birthday?

Adam Smith was born on June 5, 1723.

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