Naresh’s Reviews > The Wealth of Nations, Books 1-3 > Status Update
Naresh
is on page 52 of 544
1- Man has social and selfish propensities. Existence of selfish propensities necessitates justice and morality. 2- Morality and justice. 3- Rules of justice restrain man from hurting others. They have little bearing on personal morality. 4- Rules of justice are a subset of rules of morality.
— Jul 09, 2016 08:42AM
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Naresh
is on page 186 of 544
Exchange promotes division of labor and vice-versa. Value of a commodity is for an individual. Market price is the cost of exchange. Components of market price: labor, rent, and profit.
— Aug 01, 2016 08:36AM