Adam Smith, father of modern economics

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The Theory of Moral Sentiments

Adam Smith also wrote...

The wealth of nations

Adam smith's book discussing divisiob of labor, economic freedom, and the role of self-interest

Treatise on Human Nature

David Hume wrote...

Who, what, how

Every economic systems answers these 3 questions.

Invisible Hand

Guides members of a society to trade in the most mutually beneficial way.

Sympathy

People judge whether an action is right or wrong based on this moral sentiment.


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