The Influence Of Consumption By Adam Smith

Adam Smith wrote about consumption in his book in the wealth of the nations. What he said about consumption was that consumption is the purpose of all production. What he also said about consumption was that the interest of the producer thought to be attended only as far as it may be necessary for promoting the customer. When Smith was publishing the book the wealth of the nation consumption wasn’t a common thought at the time. Consumption is now much more of a common thought than back when Smith was publishing the book. This shows that Smith again has influenced the way we do business by writing theories in his book that hold for the future. The idea of purpose of production to build up treasure which is consumption hadn’t occurred to the …show more content…
If you talk to a business man they might say people consume for public good but you know they’re just being greedy. There are consumers who consume for the sake of their own greed. The system of capitalism can be pointed out as being a very greedy system. Smith though pointed out that the system has some very good things. He also pointed out that there would be none of these good things if it wasn’t for pursuit of self – interest. This shows that Adam Smith has influenced the way we do business through pursuit of self –interest. It shows because pursuit of self – interest has helped make todays system of capitalism a good system to live …show more content…
REFLECTION

When I reflect on Adam Smith I think of about a very important man who has influenced the way we do business in many ways. He wrote an amazing theory on the inquiry on the nature and the causes of the wealth of the nations. I reflect on this theory. As I reflect on the wealth of the nations I think of the amazing system that Adam Smith has promoted in his book. I think about all the incredible ideas that Adam Smith has brought about that are involved in the system that he has promoted.

There are some great ideas that Smith has brought about. These ideas are consumption, supply and demand, the free market and pursuit of self – interest. These are key ideas which help make up the system of capitalism.

I also reflect on how Adam Smith has had a big influence on the way we do business. In some key ideas which were brought up in his book has influenced the way we do business. These key ideas are of course consumption, supply and demand, the free market and pursuit of self – interest. These key ideas that Smith has used in his book has influenced the way we do business today. It has influenced the way we do business because the ideas have brought up the system of capitalism which economies all over the world are using today. The ideas have made the system now days easy to live in. The ideas are now days used for a purpose and are very