Article-on human exchange and human differences

Reference no: EM133514418

Assignment:

In the article, "On Human Exchange and Human Differences", Adam Smith argues the propensity to truck, barter, and exchange is inherent in human nature and causes the division of labor and society classification. The amount of labor utilized in making a good determines its exchange value. He poses, is it a natural or artificial instinct to barter or exchange?

Adam discusses how bartering is common in humans, but it is not found in animals. Such as a dog, does not barter with another dog over a bone he has found. The dog never tries to sway another animal with anything he has acquired. He also mentions how in all other races of animals, when it has grown to an age of maturity, it is entirely independent, unlike humans, that continually need help from others.

According to Adam, when we (a beggar) need something; it is not through benevolence or humanity from the person with the gift or talent that we should expect something from but appeal to their self-love.

Adam illustrates the example of a man who makes bows and arrows in exchange for cattle or venison. He soon realizes that he obtains more cattle and venison by bartering than if he physically caught it himself. In his own interest, making bows and arrows became his primary business. By treaty, barter, and by purchase from one another this example shows the division of labor.

Smith goes on to say that this exchange is how the difference of talent is noticed and without the disposition to truck, barter, and exchange; every man would have to procure every necessity for himself. Therefore, everyone would have the same duties and work to perform, with no difference in employment.

Discussion Questions

Question 1: Why does Smith believe we should appeal to a person's self-love rather than their humanity?

Question 2: Why does Smith make a point to discuss the differences in people's talents?

Reference no: EM133514418

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