The man who changed the world
by cthiemonge on April 22, 2013 - 1:19am
Man who changed the world
I was writing my articles on the euro crisis, but also the economic crisis all around the world and its consequences. For this entire topic, economy is the main subjects and why not use the person often considered as the father of the science of economics. His name is Adam Smith. He was born the 5th June, 1723. Adam Smith wanted to know: why are some nations rich, why are some poor? At his time, people said it was because some races are superiors and some countries have more natural resources. He didn’t think it was that. He knew there was something else. He was working with human mind and economics. He used some kind of political science. He thought some country didn’t allow their people to use their plain potential. Countries with good economy allowed their habitants to develop their geniality and create diversity. He wrote the Theory of Moral Sentiments (1759) which stated that humans were self-reliant and pursuing their self-commandment by the rule of natural law. He also wrote an Inquiry into the Nature and Causes of the Wealth of Nations (1776). It was his greatest masterpiece. Considered as the modern book of economy, it is there that he shows his critic of mercantilism and his theory of the invisible hand. His arguments are still used these days and this 5 book work is still considered in the most important text of free market capitalism. His famous theory of the invisible hand stated that individuals made profit for society and were good for it. He developed the free market and the start of big companies with leaders and freedom from government. Without this man, there would not be any economic anywhere. People would still be working for everyone and doing the basic work that we need. Because of Smith, people get more specific with what they do. Instead of one man doing one large job, there are many men doing many mini components, but they are super good at it so the job is better done. In fact, he actually created employment. Could I do this, I don’t think so. I personally hate maths and this guy was probably good at it. The problem is also that as time goes, research are made and new discoveries too. There are less and less thing to discover and always harder to find. It takes a lot of concentration and it’s one thing I don’t have. I do not think I am smart enough to do so and I don’t have any goal either. I will let genius be genius and for my part I will enjoy reading what they have discovered.
Pretty much any article would do the job for Adam Smith because he created economy as we know it now.
This article is about the American who wants to make trade with Canada for future oil investment. Without Mister Smith, we would not have trades like this. United States would produce their own oil and maybe sometimes go to Canada to make some trade, but they would not do such complicated trades just for oil. It is because of the new jobs that were created that we need so much the oil and has so much used to it.
This article is about the European crisis and it’s from April 2nd, 2013. It says that Europe is having 12% unemployment. According to Adam Smith, people should repair their problems by themselves and not use the government. Obviously he said that before globalization. Now many countries are dependant from one to another but some economist still think what he said is still working nowadays.