Submitted by rtbeard on January 19, 2008

• Category: Business
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Adam Smith

Rutherford Beard
MGT/573
Project Management in the
Business Environment
Decision Making
University of Phoenix


1. This word, with 'annually' just below, at once marks the transition from the older British economists' ordinary practice of regarding the wealth of a nation as an accumulated fund. Following the physiocrats, Smith sees that the important thing is how much can be produced in a given time. 8
2. Cp. with this phrase Locke, Some Considerations of the Consequences of the Lowering of Interest and Raising the Value of Money, ed. of 1696, p. 66, 'the intrinsic natural worth of anything consists in its fitness to supply...

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