Adam Smith
Adam Smith was a Scottish political economist and philosopher. He has become famous by his influential book The Wealth of Nations in which he details the first system of political economy. At the age about fifteen, Smith proceeded to Glasgow university, studying moral philosophy “the-never-to-be-forgotten” Francis Hutcheson.
Adam Smith argued about the trade of goods between countries. Like for example if England produces goods of wool at lower cost than he can trade with France because France produces goods of wine at a low cost then it will be beneficial to them to trade.Then this became know as the absolute advantage argument for trade in the language of economist.
In a late eighteenth century Adam Smith propose a theory that
Adam Smith was a Scottish political economist and philosopher. He has become famous by his influential book The Wealth of Nations in which he details the first system of political economy. At the age about fifteen, Smith proceeded to Glasgow university, studying moral philosophy “the-never-to-be-forgotten” Francis Hutcheson.
Adam Smith argued about the trade of goods between countries. Like for example if England produces goods of wool at lower cost than he can trade with France because France produces goods of wine at a low cost then it will be beneficial to them to trade.Then this became know as the absolute advantage argument for trade in the language of economist.
In a late eighteenth century Adam Smith propose a theory that