FAQs on Ch. 6 of Backhouse – The Scottish Enlightenment of the 18th Century
- What is the Scottish Enlightenment? Who were the key figures in it who contributed to economic thinking? What did they contribute?
- Summarize Mandeville’s Fable of the Bees.
- How did Adam Smith define “moral rules”?
- What was the historical context of Smith’s book on The Wealth of Nations?
- According to Smith, what is the most important cause of economic growth?
- What are the three concepts behind Smith’s theory of value?
- How did Smith define “natural price”?
- How did Smith define “liberty”?
- According to Smith, what are the three duties of government?
- How did Smith argue that unemployment would not exist?