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Title: The economical debate

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Subject: History
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Date: October 14, 2001
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Length: 6 / 1748
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Many scholars consider The Wealth of Nations to be the first published work designated to the field of economics and ultimately the beginning of the academic study of this area of concentration. When this literature was published, the idea of free-market economics was not widely accepted and there were skeptics aplenty...

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In The Wealth of Nations, Smith gives a detailed explanation of why a free-market economic system is the most favorable and advantageous format. In this work, Smith stresses ideas of an individual's advantage and the pursuit of self-interests in terms of economic and industrial productivity. One of the most recognizable and influential reforms that he suggests, deals with the division of labor...

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