1. Adam Smith's ideas were typical of most enlightenment philosophers. Like most of his contemporaries he was idealistic and had strong personal opinions. His writings and work were so popular that they are still used today and discussed. Unfortunately, as with many other philosophers, his exact methods and teachings were manipulated into a way he would not approve of. His ideas are shared by a few other philosophers.
Adam Smith states "As he grows up, he soon learns that some care and foresight are necessary for providing the means of gratifying those natural appetites, of procuring pleasure and avoiding pain, or procuring the agreeable and avoiding the disagreeable temperature of heat and cold, in the proper direction of this care and foresight consists the art of preserving and increasing what is called his external fortune" (Smith, VI.I.3). Smithis saying that we need to look out for ourselves and it is acceptable to do what is best for …show more content…
Smith states that the prudent man should always treat others respectfully. Also that everyone has a right to protect or take care of himself. To protect yourself you need basic necessities. Smith goes on to say that we need to expand our wealth to purchase these items. This relates to Smith’s idea of a free market. In Smith’s time countries were reluctant to trade with each other unless they had the better of the trade agreement. Smith argued that countries should have free trade because they both stood to gain from it.
Prudence can influence being economically successful. Being prudent would be an acceptable trait for economic success. While not the only trait that would assist him being successful it is nonetheless a trait that would help. The prudent man would venture into low risk ventures that would almost assuredly reward him with positive gains. If you are prudent you would be very knowledgeable about the supposed business venture. You would diversify your investments and slowly increase your wealth over
Adam Smith states "As he grows up, he soon learns that some care and foresight are necessary for providing the means of gratifying those natural appetites, of procuring pleasure and avoiding pain, or procuring the agreeable and avoiding the disagreeable temperature of heat and cold, in the proper direction of this care and foresight consists the art of preserving and increasing what is called his external fortune" (Smith, VI.I.3). Smithis saying that we need to look out for ourselves and it is acceptable to do what is best for …show more content…
Smith states that the prudent man should always treat others respectfully. Also that everyone has a right to protect or take care of himself. To protect yourself you need basic necessities. Smith goes on to say that we need to expand our wealth to purchase these items. This relates to Smith’s idea of a free market. In Smith’s time countries were reluctant to trade with each other unless they had the better of the trade agreement. Smith argued that countries should have free trade because they both stood to gain from it.
Prudence can influence being economically successful. Being prudent would be an acceptable trait for economic success. While not the only trait that would assist him being successful it is nonetheless a trait that would help. The prudent man would venture into low risk ventures that would almost assuredly reward him with positive gains. If you are prudent you would be very knowledgeable about the supposed business venture. You would diversify your investments and slowly increase your wealth over