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--- adam_smith [2024/02/13 07:00]
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+++ adam_smith [2024/02/19 10:53] (current)
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 Smith's writings extended beyond economics, encompassing social philosophy and ethics, emphasizing the importance of virtue in society.[([[https://www.jstor.org/stable/1407482|jstor]])]
+===== Monetary Policy =====
+Smith addressed issues related to monetary policy, discussing the impact of the quantity of money in circulation on prices and economic activity.[([[https://www.jstor.org/stable/134793|jstor]])]
+===== Labor Productivity =====
+His emphasis on the division of labor laid the foundation for later discussions on labor productivity and industrialization.[([[https://www.sciencedirect.com/topics/economics-econometrics-and-finance/division-of-labour|sciencedirect]])]
+===== Critic of Monopolies =====
+Smith criticized monopolies, arguing that competition was essential for the proper functioning of markets and the well-being of society.[([[https://www.cambridge.org/core/journals/journal-of-the-history-of-economic-thought/article/adam-smiths-system-of-natural-liberty-competition-contestability-and-market-process/0A632C245DFFEF851E9A89F5A7E1EFF9|cambridge]])]
+===== Balance of Trade =====
+Smith challenged prevailing mercantilist views on the balance of trade, advocating for a more nuanced understanding of international trade dynamics.[([[https://medium.com/the-vienna-circle/adam-smith-and-mercantilism-428eda4ec38f|medium]])]
+===== Utility of Money =====
+Smith discussed the utility of money as a medium of exchange, a unit of account, and a store of value.[([[https://www.eco.unicamp.br/images/arquivos/artigos/3692/TD351.pdf|unicamp]])]
+===== Moral Philosophy Influence =====
+While often known for his economic theories, Smith's moral philosophy also influenced his economic thinking, emphasizing the importance of moral behavior in economic interactions.[([[https://inomics.com/blog/adam-smith-1541126|inomics]])]
+===== Natural Liberty =====
+Smith's idea of "natural liberty" underscored the belief that individuals should be free to pursue their interests without undue interference.[([[https://core.ac.uk/download/pdf/43164126.pdf|core]])]
+===== Taxation Principles =====
+He proposed principles of taxation, arguing for fairness, proportionality, and the minimization of distortions in the economy.[([[https://www.elibrary.imf.org/view/book/9780939934911/ch009.xml|imf]])]
+===== Influence on American Founders =====
+Smith's ideas on free markets and limited government had a profound impact on the economic philosophy of American founders like Thomas Jefferson and James Madison.[([[https://www.linkedin.com/pulse/adam-smith-really-right-winger-stephen-dubner|linkedin]])]
+===== Legacy in Scotland =====
+Adam Smith is celebrated in Scotland, with statues and memorials honoring his contributions to economics and philosophy.[([[https://www.parliament.scot/chamber-and-committees/official-report/search-what-was-said-in-parliament/meeting-of-parliament-06-06-2023?meeting=15355&iob=130951|parliament]])]
+===== Posthumous Fame =====
+While Smith achieved some recognition during his lifetime, his ideas gained widespread acclaim and influence after his death.[([[https://singersroom.com/w38/famous-singers-from-nebraska/|singersroom]])]
+===== Global Impact =====
+Smith's ideas continue to have a global impact, influencing economic policies and debates in various countries.[([[https://www.quora.com/How-relevant-today-is-the-economic-theory-of-Adam-Smith|quora]])]
+===== Translation =====
+"The Wealth of Nations" has been translated into numerous languages, attesting to its enduring relevance and global significance.[([[https://www.econlib.org/library/Say/sayT.html|econlib]])]
+===== Historical Context =====
+Smith's works are often studied in the context of the Enlightenment, a period marked by intellectual and social transformations.[([[https://www.degruyter.com/document/doi/10.1515/9781400873487-029/html|degruyter]])]
+===== Lasting Influence =====
+The enduring influence of Adam Smith's ideas is evident in the continued study and application of his theories in the fields of economics, political science, and philosophy.[([[https://www.economicsobservatory.com/interview-jesse-norman|economicsobservatory]])]

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