Prompt: What was Adam Smith's contribution to the discussion on the 'Wealth of Nations'? 

Response: Adam Smith says that if more people are assigned to a specific job, higher results will be produced. By assigning one person to each section of the process is more effective than having one person do it all alone. The time is used more efficiently by using an assembly line. In any procedure of manufacturing the... Read More

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                  Between the 16th and 19th centuries the international economic attitude/system was Mercantilism. This system was how each Nation measured their wealth in comparison to opposing powers. They were so focused on the calculated number of riches they had stored away in their banks. They let it collect dust instead of using if to better the lives of their peo... Read More

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    This week, our discussion of American society focused on the economic differences of this new nation.  Much of America’s reputation since the 20th Century has roots in an economic model which came forth in, you guessed it, 1776.  However, this model did not come from an American; rather it came from what Adam Smith put forth as “An Inquiry into the Nature and Causes of the Wealth of Nations.”  This was perfect timing because Ame... Read More

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