anyone agree be specific plz!!
2007-01-15 03:10:27 · 5 answers · asked by Anonymous in Social Science ➔ Economics
Adam Smith greatly influenced economic thought.
Adam Smith's books worked to flesh out theory as to why businesses were making the decisions that they were making.
In other words, companies had already started using "division of labor", they were already profit-oriented entities ("invisible hand") --- Smith helped to explain why this worked.
Economists, specificially those interested in IO or Theory of the Firm, tend to follow this path.
2007-01-15 03:24:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I be specific - your friend don't know much about economic thought for nearly the past 250 years. How is that for specific. Tell them to read http://en.wikipedia.org/wiki/Adam_Smith just to get them on the right track. That is funny - Adam Smith didn't greatly influence capitalism - are they all Marxists or something?
Good Luck!!!
2007-01-15 11:15:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i beg to differ. i actually think that granny smith influenced it more!!!!!!!!!
2007-01-16 01:28:48 · answer #3 · answered by pugsaleena 4 · 0⤊ 1⤋
uuuuuuuuhhhhh, ya
2007-01-15 16:20:15 · answer #4 · answered by Mr. DC Economist 5 · 0⤊ 1⤋
Duh, Drrr ... He's always at the beggining of all Economic 101 Classes.
2007-01-15 11:40:22 · answer #5 · answered by Giggly Giraffe 7 · 0⤊ 0⤋