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2/11 – Wealth of Nations

2/11 – Wealth of Nations. AIM : What were Adam Smith’s contributions to economics? Opener : Download the reading from the weekend (online at THHS website). Then, write: Two interesting facts you learned. One question you have about the reading. How does Adam Smith answer these questions?.

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2/11 – Wealth of Nations

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  1. 2/11 – Wealth of Nations • AIM: What were Adam Smith’s contributions to economics? • Opener: Download the reading from the weekend (online at THHS website). Then, write: • Two interesting facts you learned. • One question you have about the reading.

  2. How does Adam Smith answer these questions?

  3. Competition & Self-Interest • What roles do competition and self-interest play in Adam Smith’s economic vision?

  4. Scenarios: • Explain the following scenarios from the viewpoint of Adam Smith: • The rise of the phone companies BoostMobile and MetroPCS • The popularity of Apple computer products

  5. “Monopoly” as the Enemy • Explain the following quote from the reading: • “The great enemy to Adam Smith’s system is… monopoly in any form”.

  6. Law of Accumulation vs. Law of Population • How do these two “laws” balance each other out?

  7. http://www.slate.com/blogs/moneybox/2013/02/07/david_einhorn_sues_apple_over_its_cash_stockpile.htmlhttp://www.slate.com/blogs/moneybox/2013/02/07/david_einhorn_sues_apple_over_its_cash_stockpile.html

  8. The Role of Government What roles of government might be missing from Smith’s view? Explain.

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