1. Adam Smith's Theory of the State
... successive generations, can a sleep a single night in security." Smith's third role for the Sovereign, the Expense of Public Works and institutions, is one of the more "controversial" in his theory of the state as he states that it is the duty of the government to build and maintain social necessities "which though they may be in the highest degree advantageous to a great society, are, however, of such a nature ... that the profit could never repay the expense to any individual and which it therefore, ... cannot be expected that any individual should erect or maintain." (Heilbroner, p 2...
- Word Count: 1236
- Approx Pages: 5
- Has Bibliography
- Grade Level: Graduate