ÜDS-Sosyal 2009-2 Soru=53

According to the text, Adam Smith ----.

Scottish philosopher and historian David Hume emerged
as an economist also with the publication of his Political
Discourses. The famous Adam Smith was a friend of his
and may have been influenced by Hume: they had similar
principles, and both were very good at illustrating and
supporting these from history. Although Hume did not
formulate a complete system of economic theory, as did
Smith in his Wealth of Nations, he introduced several of
the new ideas around which the “classical economics” of
the 18th century was built. His economic philosophy can be
understood from his main arguments: that wealth consists
not of money but of commodities; that the amount of
money in circulation should be kept related to the amount
of goods in the market; and that poor nations impoverish
the rest because they do not produce enough to be able
to take much part in trade. Beyond this, he urged society
to welcome the shift from an agricultural to an industrial
economy, without which civilization could not be
achieved.