SOCB47H3 Lecture Notes - Capital Accumulation, Barter

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Then went to oxford due to sickness. At 28 became professor for moral philosophy. First to give lecs in english (suppose to use latin in scotland) Moral sentiments very famous book, talks about general moral forces influencing human action. His economic book focuses in a corner of world. Due to book (moral sentiments), got better job as tutor for child of baron. Economics book became very influential till today. Title = inquiry into nature and causes of the wealth of a nation. Natural resources p. 2 = most fertile soil, oil, etc. Gnp per capita (gross national product per person) Wealth created through social process --> a social product/condition. Book purpose = increase productivity in country to increase wealth. If wealth in natural resources, best way to increase is to take it. Way to get rich = go and take it by military strength. Smith thinks mercantilism will cause country to be poor because wealthy means productivity of its people.

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