First Advisor

John B. Hall

Date of Award

2013

Document Type

Thesis

Degree Name

Bachelor of Science (B.S.) in Economics and University Honors

Department

Economics

Subjects

Adam Smith (1723-1790), Division of labor, Economic development, Economic policy

DOI

10.15760/honors.24

Abstract

This inquiry seeks to establish that Adam Smith relies upon his books The Theory of Moral Sentiments [1959] and An Inquiry Into the Nature and Causes of the Wealth of Nations [1776] as complementary texts to introduce and develop his ideas. We will begin with a background of economic thinkers prior to Smith. After summarizing an example of this division of labor by Adam Smith, we will delve into the benefits of the division of labor: more skilled workers, time efficiency, and the invention of proper machinery. Similarly, we will examine the implications brought by this division of labor with an analysis of the connection between both of his books. Current scholars will be briefly discussed as they interpret the meaning of Smith's work. Finally, we will look at post-Smithian thinkers in Classical Political Economy.

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Persistent Identifier

http://archives.pdx.edu/ds/psu/10241

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