1. Adam Smith's Theory of the State
... should be responsible for undertaking ventures that would benefit or even be necessary to the wellbeing of the society with out being profitable (public works and institutions). Smith starts his discussion on the duties of the State by saying, "The first duty of the sovereign, that of protecting the society from the violence and invasion of other independent societies, can be ... noteworthy here that Smith says " all the different members contributing, as nearly as possible, in proportion to their respective abilities." It is truly novel that in 1776, hundreds of years before our comple...
- Word Count: 1236
- Approx Pages: 5
- Has Bibliography
- Grade Level: Graduate