Adam Smith's conceptual contributions to international economics: Based on the Wealth of Nations
Author(s) -
İsmail Küçükaksoy
Publication year - 2011
Publication title -
business and economic horizons
Language(s) - English
Resource type - Journals
eISSN - 1804-5006
pISSN - 1804-1205
DOI - 10.15208/beh.2011.9
Subject(s) - adam smith , poverty , economics , welfare , population , dimension (graph theory) , world population , economic welfare , development economics , neoclassical economics , developing country , economic growth , sociology , market economy , demography , mathematics , pure mathematics
The 1776 dated “Wealth of Nations” work of Adam Smith has formed economic dimension of the Industrial Revolution and also transformed economics into the identity of a social science. As if the wealth of nations, namely the welfare increase became the top goal two and a half centuries ago, it is the top goal today and in the future as well. So understanding Smith’s works well carries importance in fighting against poverty in the world. According to Smith, in the basis of the welfare increases (wealth of nations) are labor and cooperation. Tendency underlying cooperation is the tendency of swap. It is considered that understanding Smith’s works well will provide solution for poor countries and therefore contribute to poor population in the world to decrease. For solving poverty and problems concerning welfare (destitution, hunger, etc.), Smith’s works need more historic examination. In this study it was aimed to contribute to the given examination.
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