Economic Revolution

Topics: Industrial Revolution, Economics, Capitalism Pages: 5 (1640 words) Published: May 1, 2013
Economic Revolution Mid-18th
United Arab Emirates University
Scales :
Dr. Duane Lacey
* Faculty of Business and Economics , UAE University (UAE) * E-mails:

* done by : Shaima Mahmoud Fahd Awad ID :

Dr. Duane Lacey
* Faculty of Business and Economics , UAE University (UAE) * E-mails:

* done by : Shaima Mahmoud Fahd Awad ID :

( Adam Smith - scientific curiosity )

Intro :
In 1800s century was a time of tremendous changes and discoveries in economic thought Which led to an economic revolution :  is a rapid change in the economic system of a society .Nevertheless, the eighteenth century does represent a decisive break in the history of technology and the economy. The famous inventions–the spinning jenny, the steam engine, coke smelting, and so forth–deserve their renown1, for they mark the start of a process that has carried the West, at least, to the mass prosperity of the twenty-first century . a knowledge of economic thought makes us enable to realize and understand the way economic science , like other branches of science , grows , expands and undergoes a mutation but never achieves perfection . Come to appreciate that most modern ideas have long histories .IN this report am going to talk about a man who changed the economic " Adam smith" and discuss the Scientific curiosity in the economic revolution

Adam smith ( 1732 – 90 ) , the kindly , brilliant founder of the classial school was born in the seaport and manufacturing town of Kirkaldy, Scotland . he studied moral and political science and languages at Balliol College , Oxford . Smith began delivering public lectures in 1748 at Edinburgh  after that he was elected professor of logic at Glasgow College in 1751. His contribution to the development of economic since ( especially when we look at the influence which his views and work exerted upon the moulding of future economic thought and policy ) cannot be over-estimated. The seeds of later development are found in his theory the Moral Sentiments 1759 and his book Wealth of the Nations ,which was published in 1776. His moral philosophy is a part of the development of 18th-century British thought that arose as a reaction to Hobbes "selfish system". this in my point of view will rise a conflict between individuals , and in a way or another it will not preserve the society and save it from disruption, and the way to save it from disruption is intervention by the government the Moral Sentiments :

The moral of sentiments went through 6 editions during smith , which represent his later ideas sympathy that overcomes selfishness .Smith critically examines the moral thinking of his time, and suggests that conscience arises from social relationships .He tried to explain the source of mankind's ability to form moral judgments , in spite of man's natural inclinations towards self-interest. Smith proposes a theory of sympathy, in which the act of observing others makes people aware of themselves and the morality of their own behavior.

In Wealth of the nations he assumed the existence of a just society and showed how the individual is guided and limited by economic forces in the later book however Smith did sometimes overemphasize economic interests and motivations at the expense of morals and ethics . the theory of moral sentiments sympathy& benevolence overcame selfishness ; the natural order is guided by benevolent God . In Wealth of the Nations competition curbs selfishness ; God is excluded leaving Smith to fined defects in the order of nature without casting reflections on the work-manship of it's Author. Smith believed that prudence in managing one's own affairs is relates to justice towards others-that is justice toward others is the best policy in one's...
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