1. Assignment 1 Adam Smith, Noam Chomsky and the Imperial Age

2. Adam Smith • Specialization – trade or production –MORE from same resources – also need to make work more meaningful (less cog in machine) • Consumer Capitalism -- consumption – Use MORE – provides more to society– profits (surplus wealth) enable taking care of poor – also meet higher needs & fulfillment • Give rich respect they will give money – direct vanity to proper objects • Educate consumer – want better goods and environment – elevate quality of consumer demand Main point an economy that is profitable and civilized, need to make it more humane and meaningful

3. Noam Chomsky • Structure – rewards to all that matter • International integration a good thing, not the what has resulted • “Globalization” Open borders destroys local developing world activities • Impacts on labor/farmers • Flee to cities for low wage jobs • Become “rational peasants” in country side – cash crops • Must produce for export • Make stable profits – enter drug production • Neo Liberal and Washington Consensus choice behind this – open local markets to foreign markets • Need different system based on right of Independent development for developing world

4. Exercise • Divide into new groups & based on number apply Adam Smith to the Opium trade example (different groups focus on different aspects) • How might Noam Chomsky apply (again divide by different aspects)