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History of Economic Thought and Globalization – Brilliant Term Papers

History of Economic Thought and Globalization Posted: January 17th, 2015

History of Economic Thought and Globalization

From Economics Evolving – A History of Economic Thought
1. In your own words, briefly explain Adam Smith’s concept known as division of labor? What benefits does it provide?
2. In your own words, briefly explain Adam Smith’s thoughts on the following:
a. relationship between rich and poor
b. The proper role of government
c. How mercantilism affects the domestic poor.
3. In the Reason TV interview of Russ Roberts on Adam Smith and the Theory of Moral Sentiments, in your own words:
a. Briefly explain the concept of beneficence, and how it relates to free markets?
b. Which is more compatible with free markets, a government solution to local problems or voluntary collective action and why?
c. Define confirmation bias and the “cherry-picking” of data. How are they related, feel free to use an example.

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