首页
登录
职称英语
Adam Smith, the Scottish professor of moral philosophy, was thrilled by his r
Adam Smith, the Scottish professor of moral philosophy, was thrilled by his r
游客
2023-12-18
50
管理
问题
Adam Smith, the Scottish professor of moral philosophy, was thrilled by his recognition of order in the economic system. His book, The Wealth of Nations (1776), is the germinal book in the field of economics which earned him the title, the father of economics.
In Smith’s view, a nation’s wealth was dependent upon production, not agriculture alone. How much it produced, he believed, depended upon how well it combined labour and the other factors of production. The more efficient the combination, the greater the output, and the greater the nation’s wealth.
The essence of Smith’s economic philosophy was his belief that an economy would work best if left to function on its own without government regulation. In those circumstances, self-interest would lead business firms to produce only those products that consumers wanted, and to produce them at the lowest possible cost. They would do this, not as a means of benefiting society, but in an effort to outperform their competitors and gain the greatest profit. But all this self-interest would benefit society as a whole by providing it with more and better goods and services, at the lowest prices.
Smith said in his book: "Every individual endeavours to employ his capital so that its produce may be of greatest value. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own security, only his own gain. And he is in this led by an ’invisible hand’ to promote that which was no part of his intention. By pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote."
The "invisible hand" was Smith’s name for the economic forces that we today would call supply and demand, Smith agreed with the physiocrats and their policy of "laissez faire", letting individuals and businesses function without interference from government regulation. In that way the "invisible hand" would be free to guide the economy and maximize production.
Smith was very critical-of monopolies which restricted the competition that he saw as vital for economic prosperity. He recognized that the virtues of the market mechanism are fully realized only when the checks and balances of perfect competition are present. Perfect competition refers to a market in which no firm or consumer is large enough to affect the market price. The "invisible hand" theory is about economies in which all the markets are
perfectly competitive. In such circumstances, markets will produce an efficient allocation of resources, so that an economy is on its production-possibility frontier. When all industries are subject to the checks and balances of perfect competition, markets can produce an efficient bundle of products with the most efficient techniques and using the minimum amount of inputs. But when monopolies become pervasive, the remarkable efficiency properties of the invisible hand may be destroyed. [br] What is the essence of Adam Smith’s economic philosophy?
选项
A、Self-interest is irrelevant to economic growth.
B、People are generally not interested in the public interest.
C、Government shouldn’t intervene in economy.
D、Economic forces should be regulated to promote public interest.
答案
C
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3283948.html
相关试题推荐
BengtHolmstrom,aprofessoratMIT,isslatedtoacceptaNobelPrizeinec
WhatwaseducationlikeinProfessorWang’sdays?[br][originaltext]H:Goodev
WhatwaseducationlikeinProfessorWang’sdays?[br][originaltext]H:Goodev
WhatwaseducationlikeinProfessorWang’sdays?[br][originaltext]H:Goodev
WhatisthepurposeofProfessorMcKay’sreport?[br][originaltext]Interviewer
WhatisthepurposeofProfessorMcKay’sreport?[br][originaltext]Interviewer
WhatisthepurposeofProfessorMcKay’sreport?[br][originaltext]Interviewer
Cosmologyissometimespooh-poohedasmorephilosophythanscience.Itasks
[originaltext] DianeLarsen-Freemanisawell-knownAmericanprofessorofappl
[originaltext] DianeLarsen-Freemanisawell-knownAmericanprofessorofappl
随机试题
EachdayofEarthWeek,forexample,hasbeengivenovertoaseparateenvir
Duringthe1980s,unemploymentandunderemploymentinsomecountrieswasashigh
Therewasonethoughtthatairpollutionaffectedonlytheareaimmediately
根据沉积岩的组成成分、结构、构造和形成条件,可将沉积岩分为碎屑岩、黏土岩、化学及
甲市A区破获一起团伙盗窃,经审理后认定,只有主犯刘某可能被判处无期徒刑。
《旅游法》第41条明确规定,导游从事业务活动,应当佩戴导游证。《导游人员管理条例
关于电解质分析仪的叙述错误的是()。A.为了延长仪器的寿命,不用时应关闭仪器
充油设备渗漏率按密封点不能超过0.01%。
下列用于被试间设计的方法是( )A.匹配 B.随机化 C.拉丁方设计 D
对于证券,客户证券原先即托管在证券公司,客户可能卖出超过其实际可卖数量的证券,因
最新回复
(
0
)