POLITICAL THEORY - Adam Smith

0.0(0)
studied byStudied by 0 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/9

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

10 Terms

1
New cards
Adam Smith
Scottish philosopher and economist known for his works on capitalism, specialization, and the importance of sympathy.
2
New cards
Specialization
The process of dividing tasks in production across multiple people to increase efficiency and productivity.
3
New cards
Consumer Capitalism
An economic system in which goods are provided for consumer demand, generating surplus wealth and aiding society's weakest members.
4
New cards
Honour and Respect
According to Smith, these are the true motivations for the rich, rather than mere accumulation of money.
5
New cards
Education of the Consumer
The recognition that improving consumer habits and demands can lead to a more ethical and sustainable capitalism.
6
New cards
Higher Needs
As per Smith, these include education, self-understanding, and fulfilling social lives beyond mere material consumption.
7
New cards
Frivolity
Characteristics of consumer societies which, while often seen as superficial, provide essential support for vulnerable populations.
8
New cards
The Role of Luxury Goods
According to Smith, these goods generate wealth that allows societies to provide for their weakest members.
9
New cards
Vanity
The desire for approval and status, which Smith suggests can be redirected to promote societal good.
10
New cards
Purpose in Work
The sense of meaning and contribution that workers may lose in large, specialized corporations.