How relevant are smiths analysis and insights

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Reference no: EM133410335

Question 1) how would you explain Adam Smith's idea of the "invisible hand" to a senior in a high school or an intro sociology class? As often is the case, it may be helpful to include a statement about what the invisible hand is NOT, i.e., what may be common misconceptions and misinterpretations.

Question 2) How would you identify the main point of what I am referring to (in the supporting material) as Adam Smith's incipient "class theory"? Is it primarily about those who live by rent, those who live by wages, or those who live by profits? in providing an answer to this question, you may want to include what larger question Smith was asking (as it pertain society -- the issue of the "general interest of society"). You may also want to include an example from present circumstances to illustrate your conclusion.

Question 3) How relevant are Smith's analysis and insights about the importance of the division of labor today? In answering the question, provide examples that illustrate your argument. Is Smith still correct?

Reference no: EM133410335

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