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CONTENTS

INTRODUCTION

PART 1: THE LIFE OF ADAM SMITH
„� His life and influences

PART 2: ¡§WEALTH OF NATIONS¡¨
„� A brief summary of the book
„� Ideas presented in the book

CONCLUSION

Selim Eren Yener

20300817
THE HISTORY OF CIVILIZATION

¡§ADAM SMITH AND MERCHANTALISM¡¨

NESLIHAN SENOCAK

INTRODUCTION:

Obviously, the term capitalism comes from the word capital. Capital is the money someone has. So capitalism has to do something with money. Simply we can define capitalism as making more money from the starting capital. The economicians claim that there are three distinctive features of this making more money process, which divides capitalism from other economic models. They are: ¡§Private ownership of property, pursuit of personal profit, and free market idea¡¨1 All of these three ideas were developed for the first time by the Scotch Economican, Adam Smith, so he is considered as the founder of the capitalist economy although he has......

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Approximate Word Count: 2543
Approximate Pages: 11 (250 words per double-spaced page)

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