Tag Archives: economic

Economics: The Nature And Its Scope

By Guest Author | Published: October 16, 2010

What is wrong with this definition? Adam Smith lauded as the father of economics defined economics as an analysis of the nature and cause of wealth. It is wrong because it only emphasized accumulation of wealth is the only thing that can satisfy man. It is wrong because it does not recognize the reality that wealth is only one of his satisfactions. There are intangible things that can give man satisfaction.

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Tag Archives: economic

Economics: The Nature And Its Scope

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