The paper compares Adam Smith’s philosophy of Usury to the modern theory of usury and critiques the theory Adam Smith presents. After the comparison, there is discussion about how Adam Smith wanted to regulate usury or interest rates. I then present…
According to Adam Smith, whose insights still underpin economics as a discipline to this day, taxation is justified by the government’s ability to fulfill needs which cannot be supplied by the market and otherwise intervening to create efficiency and…
Both Hume and Smith are influential philosophers and economists, and wrote some of the most important historical works in the beginnings of the study of economics. Both men wrote a variety of essays and publications on the subject, and were both…
Thomas Malthus was one of the first scholars to write about the issues of population growth. He feared that humans would surpass Earth's carrying capacity which would lead to disease, suffering, and ultimately death. He believed that higher wages…
In an initial read of Adam Smith’s landmark work Wealth of Nations for the young economics student, concepts known from our daily observations of economics are ingrained into our culture thanks to his contributions: self-interest motivates the…
One of the most commonly referenced dichotomies in the field of economics is that which pits capitalism against communism. The economists behind these ideologies, Adam Smith and Karl Marx, respectively, are generally seen as foils of each other, not…