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Lecture 4

DVM2350 Lecture Notes - Lecture 4: Invisible Hand, Absolute Advantage, Classical Liberalism


Department
International Development and Globalization
Course Code
DVM2350
Professor
Tamara Kotar
Lecture
4

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
An Inquiry into the Nature and Causes of the Wealth of Nations

What did we learn from Adam Smith?
 !!"#"
 !!
 
! !!

 $
 %!
 !&
 $
 '!
What does Adam Smith mean by the Wealth of Nations? Is he only talking
about monetary wealth?
 (&
 )&
 '
'* &"

 $!+!
,
What does Smith mean by the division of labour?
- . "
 /0.
 )1
 '&
How does smith feel about government regulation of the economy? What
does he see as the role of government?
0#"!!2
)
How does Smith feel about trade?
How does Smith compare to other classical liberal thinkers?
Are his ideas still relevant in our current context?
 $!!
 
 /!&,,,-!&
!,
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