Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism
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Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism


In the eighth chapter of its first volume, Smith made the following novel argument: when a landlord, a weaver, or a shoemaker has greater profits than he needs to maintain his own family, he uses the surplus to employ more assistants, in order to further increase his profits. The more profits he has, the more assistants he can employ. It follows
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