History of Economic Thought and Globalization
Homework #2 – Please submit to Drop Box marked Homework #2 by Monday, Jan. 5 at midnight.
From Economics Evolving – A History of Economic Thought and the notes on the board in class.
1. In your own words, briefly explain Adam Smith’s concept known as division of labor? What benefits does it provide?
2. In your own words, briefly explain Adam Smith’s thoughts on the following:
a. relationship between rich and poor
b. The proper role of government
c. How mercantilism affects the domestic poor.
3. In the Reason TV interview of Russ Roberts on Adam Smith and the Theory of Moral Sentiments, in your own words:
a. Briefly explain the concept of beneficence, and how it relates to free markets?
b. Which is more compatible with free markets, a government solution to local problems or voluntary collective action and why?
c. Define confirmation bias and the “cherry-picking” of data. How are they related, feel free to use an example.

Order Management

Premium Service
- 100% Custom papers
- Any delivery date
- 100% Confidentiality
- 24/7 Customer support
- The finest writers & editors
- No hidden charges
- No resale promise
Format and Features
- Approx. 275 words / page
- All paper formats (APA, MLA, Harvard, Chicago/Turabian)
- Font: 12 point Arial/Times New Roman
- Double and single spacing
- FREE bibliography page
- FREE title page
0% Plagiarism
We take all due measures in order to avoid plagiarisms in papers. We have strict fines policy towards those writers who use plagiarisms and members of QAD make sure that papers are original.