Adam Smith summary
Explore the life of Adam Smith and his famous work The Wealth of Nations
Below is the article summary. For the full article, see Adam Smith.
political economy Summary
Political economy, branch of social science that studies the relationships between individuals and society and between markets and the state, using a diverse set of tools and methods drawn largely from economics, political science, and sociology. The term political economy is derived from the Greek
economic growth Summary
Economic growth, the process by which a nation’s wealth increases over time. Although the term is often used in discussions of short-term economic performance, in the context of economic theory it generally refers to an increase in wealth over an extended period. (Read Milton Friedman’s Britannica
Scottish Enlightenment Summary
Scottish Enlightenment, the conjunction of minds, ideas, and publications in Scotland during the whole of the second half of the 18th century and extending over several decades on either side of that period. Contemporaries referred to Edinburgh as a “hotbed of genius.” Voltaire in 1762 wrote in
economics Summary
Economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. In the 19th century economics was the hobby of gentlemen of leisure and the vocation of a few academics; economists wrote about economic policy but were rarely consulted by