Friday, September 12, 2008

Essays on Adam Smith's Critiques of Contemporary Britain

Another essay writing enterprise called ‘Student of Fortune’

HERE is the Question:

"$7.00 Has Adam Smith's Vision Proved True?"


“In his book Wealth of Nations, Scottish economist Adam Smith argued that society's interests are best served by a private enterprise system in which individual entrepreneurs seek their own self-interest versus other types of economic systems. He felt that competition was a better way to regulate business than government planning and control. Discuss Smith's pure vision and the reality of contemporary practices. Explain whether or not his theory has been proved over the past 200 years

Students received the posted question on 11 September and have to send in their essays by 13 September, presumably to be marked. It’s not clear why it’s marked at $7, nor what happens next.

Maybe it’s properly assessed and they receive useful guidance; maybe the better essays for the stock of the organisation running the site.

Wealth Of Nations was a critique of the prevailing mercantile political economy of 18th-century Britain. It was not a blueprint for a pure economy. The reality of ‘contemporary practices’ should be contextualised to show that mercantile political economy never went away after Adam Smith died – it’s still with us in the 21st century.


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