In fact the first "Political Economist's" writings, according to W.H.B Court "the first great piece of economic history", aim were to determine the effect of Governments Policies on the economy. In Adam Smiths The Wealth of Nations his main focus are on the division of labour, the concept that specialization leads to efficiency, and the concept of an "invisible hand" in markets where he explained that an economy sustains itself and develops not because of an organized plan but rather, the selfish endeavours and industry of man creates this harmonious and efficient system...
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In Adam Smiths The Wealth of Nations his main focus are on the division of labour, the concept that specialization leads to efficiency, and the concept of an "invisible hand" in markets where he explained that an economy sustains itself and develops not because of an organized plan but rather, the selfish endeavours and industry of man creates this harmonious and efficient system...
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