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
6
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 does the "invisible hand" refer to?
选项
A、Supply and demand.
B、Laissez faire.
C、Self-interest.
D、Non-interference from the government.
答案
A
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3283949.html
相关试题推荐
BengtHolmstrom,aprofessoratMIT,isslatedtoacceptaNobelPrizeinec
BengtHolmstrom,aprofessoratMIT,isslatedtoacceptaNobelPrizeinec
BengtHolmstrom,aprofessoratMIT,isslatedtoacceptaNobelPrizeinec
WhatwaseducationlikeinProfessorWang’sdays?[br][originaltext]H:Goodev
WhatwaseducationlikeinProfessorWang’sdays?[br][originaltext]H:Goodev
WhatisthepurposeofProfessorMcKay’sreport?[originaltext]Interviewer:Toda
Cosmologyissometimespooh-poohedasmorephilosophythanscience.Itasks
RobertBurnswasa_________poet.A、EnglishB、ScottishC、WelshD、IrishB
[originaltext] DianeLarsen-Freemanisawell-knownAmericanprofessorofappl
[originaltext] DianeLarsen-Freemanisawell-knownAmericanprofessorofappl
随机试题
[originaltext]Ok,soinourlastclasswewerediscussingbigbandsswingmu
杭州素以风景秀丽著称。大约七百年前,意大利最著名的旅行家马可.波罗曾称誉它是“世界上最美丽华贵之城”。境内西湖如明镜,千峰凝翠,洞壑幽深,风光绮丽。湖上
[originaltext]W:Excuseme,areyougoingtobuythatbook?M:Well,Ineedit
B
个人汽车贷款贷后管理环节的主要风险点有()。A.贷后管理与贷款规模不匹配,贷
关于低渗性脱水,正确的陈述是()。A.早期尿量减少 B.失钠多于失水 C.
2010年,天津市全市生产总值突破9000亿元。据初步核算,并经国家统计局评估审
把职业投资分析师定义为“从事作为投资决策过程的一部分,对财务、经济、统计数据进行
(2017年真题)下列选项中,不属于家庭风险管理规划的是()。A.财产保险
(2014年真题)下列关于工程计价的说法中,正确的( )。A.工程计价包含计算
最新回复
(
0
)