1. Topic: What Contribution Did Adam Smith And John M. Keynes Make To The Study Of Economics?
... hand," which he used to demonstrate how self-interest guides the most efficient use of resources in a nation's economy, with public welfare coming as a by-product. And what drives this flow of goods and services? I quote Adam Smith from his book "The Wealth of Nations": "Every individual is continually ... whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society." It simply encourage...
- Word Count: 1299
- Approx Pages: 5
- Grade Level: Undergraduate