1. Cocktail Party Economics
The direct translation from the French language is "leave alone to do", which is self-explanatory. ... I quote Adam Smith from his book "The Wealth of Nations": "Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. ... He therefore did not direct his attention in The General Theory to the issues of what should be produced and how. ...
The direct translation from the French language is "leave alone to do", which is self-explanatory. ... And what drives this flow of goods and services: I quote Adam Smith from his The Wealth of Nations: "Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. ... By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many ot...
A quote from the Pali scriptures covers the fifth precept: 'Taking drink and drugs brings a sixfold misfortune: it leads to a loss in one's property, to quarrels, is a source of sickness, creates a bad reputation, destroys the sense of moral shame and weakens the intellect.' ... Unethical business practices have direct economic consequences. ...
To Smith nature is many things, including "nature is the essential quality and character of something, it is the inherent force which directs either the world or human beings or both, thirdly, it is the material world itself, taken as including or not including human beings" (Smith 392). ...