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Compare and Contrast Adam Smith, Wealth of Nations and Thomas Malthus, Essay on Population - Term Paper Example

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Compare and Contrast Adam Smith, Wealth of Nations and Thomas Malthus, Essay on Population

On the other hand, during the similar period, Reverend Thomas Malthus, published another thesis titled as ‘An essay on the principles of population’ criticising the views of the Utopians who believed the fact that life of the human being will enhance on earth and likewise contributing to the conceptualisation of classical economics (Malthus, 1798). Although, the ideologies presented by both the authors tend to focus on the implications of classical theory, there are certain differences that can be observed in terms of the ideologies presented through these publications related with human nature as well as freedom and morality. Focusing on these aspects, the objective of the discussion henceforth is intended to compare and contrast the views presented by Adam Smith and by Thomas Malthus through their publications respectively. Adam Smith’s ‘Wealth of Nations’ and Thomas Malthus’s ‘Essay on Population’ It can be observed that the early classical economists, such as Adam Smith as well as Thomas Malthus stated the fact that business cycles function because of alterations in population in reaction to the availability of the resources, capability of the capitalists to exploit the labour, socio-psychological mass associations, unanticipated business inventories as well as public confidence (Malthus, 1798). ...Show more

Summary

Compare and Contrast Adam Smith’s ‘Wealth of Nations’ and Thomas Malthus’ ‘Essay on Population’, Analyzing Their Ideology on Human Nature, Freedom, and Morality Introduction The late 1770s had presented a few crucial contributions towards the formulation of classical economics…
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