Adam Smit i "Bogatstvo naroda" — sveobuhvatni pregled

Uvod

Adam Smit (1723–1790) škotski je filozof i ekonomista čije delo An Inquiry into the Nature and Causes of the Wealth of Nations (1776), obično skraćeno Bogatstvo naroda, smatra se temeljem moderne ekonomske nauke. Knjiga je objavljena u vreme velikih društvenih i industrijskih promena i pružila je sistematsku analizu tržišne ekonomije, podelu rada i uloge države.

By pursuing his own interest, an individual frequently promotes that of society more effectually than when he really intends to promote it. This mechanism operates through the price system:

5. The Theory of Value

Smith explored the paradox of value: Why is water (essential) so cheap, while diamonds (non-essential) are so expensive? He distinguished between "use value" and "exchange value," laying the groundwork for later economists like Ricardo and Marx.

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