MMW 14 Lecture 6: Revolution in Economic Behavior

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Describe universal laws that governed society"s economic behavior (1) (2) His ambition newtonian, his interests catholic i) ii) iii) Chair of moral philosophy at the university of glasgow (1) Heilbroner more aptly characterizes smith as a modern. An inquiry into the nature and causes of the wealth of nations. Goal--> search for some king of rational order. A time where britain was going through the "growing pains" of industrialization. Didn"t believe that the negative consequences were meant to last--> end goal is positive. Ultimate end of commerce and industry was to augment the wealth (4) (5) The invisible hand of the market system a) Central concern of the wealth of nations i) Search for a rational order, design, and purpose behind the world of. Was there an enlightened rationale for all its temporary social ills? ills? ii) Commerce so that universal opulence [can] extend itself to the lowest ranks of the people .

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