Топик на английском Adam Smith (Адам Смит)
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Топик на английском Adam Smith (Адам Смит)

Late in the 16th and the first half of the 17th century Britain became the centre of the development of science and materialistic philosophy. It was an age of experiment and new thought changing men's ideas of the world.

It was the time when English classical school of political economy emerged whose teaching proved that economic progress depended on the free enterprise and free trade. This theory had first been developed by Sir William Petty (1623-1687) who is considered the founder of political economy.

One of the greatest representatives of English classical political economy was Adam Smith (1723-1790). He proclaimed to the world the economic philosophy of "the obvious and simple system of natural liberty". His work "Enquiry into Nature and Causes of the Wealth of Nations" which was published in 1776 was a great event in economic science. Adam Smith was the first real advocate of free enterprise and free trade.

"... Every man as long as he does not violate the laws of justice is left perfectly free to pursue his own interest in his own way and to bring both his industry and capital with those of any other man".

He proved that a country's wealth lies not in money but in the goods people use and in their skill to produce them. His ideas were further developed in the books by David Ricardo (1772-1823).

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