City
How valuable is a city?
- what benefits & drawbacks does it provide?
- a city allows for greater Division of Labor than a small village (SmithSmith
Adam Smith
Wrote [[Smith, Wealth of Nations]]
(Also wrote Theory of Moral Sentiments (based on [[Hume]]) in 1759)
Smith was a moral philosopher
Non-Christian, close friend of [[Hume]]
"The [[Smith, Wealth of Nations]] is a very violent attack upon the whole commercial system of Great Britain." - Smith
it was descriptive of England's economics, not prescriptive
from the perspective of the wealth of a nation, joint-stock co is not the best model
First one to do the science of economics (...)
- a city allows for greater Division of Labor than a small village (SmithSmith