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Smith, Adam
(Encyclopedia)Smith, Adam, 1723–90, Scottish economist, educated at Glasgow and Oxford. He became professor of moral philosophy at the Univ. of Glasgow in 1752, and while teaching there wrote his Theory of Moral ...capitalism
(Encyclopedia)capitalism, economic system based on private ownership of the means of production, in which personal profit can be acquired through investment of capital and employment of labor. Capitalism is grounde...commerce, in economics
(Encyclopedia)commerce, traffic in goods, usually thought of as trade between states or nations. Engaged in by all peoples from the earliest times, it has been carried on in some areas and by some peoples more than...tariff
(Encyclopedia)tariff, tax on imported and, more rarely, exported goods. It is also called a customs duty. Tariffs may be distinguished from other taxes in that their predominant purpose is not financial but economi...imperialism
(Encyclopedia)imperialism, broadly, the extension of rule or influence by one government, nation, or society over another. Imperialism was reborn in the West with the emergence of the modern nation-state and the ...trade
(Encyclopedia)trade, traffic in goods. Conducted by gift, barter, or sale, trade is one of the most widespread of all social institutions. The theory of commerce as imposed by the national state has varied from...British Empire
(Encyclopedia)British Empire, overseas territories linked to Great Britain in a variety of constitutional relationships, established over a period of three centuries. The establishment of the empire resulted primar...economics
(Encyclopedia)economics, study of how human beings allocate scarce resources to produce various commodities and how those commodities are distributed for consumption among the people in society (see distribution). ...free trade
(Encyclopedia)free trade, in modern usage, trade or commerce carried on without such restrictions as import duties, export bounties, domestic production subsidies, trade quotas, or import licenses. The basic argume...nationalism
(Encyclopedia)nationalism, political or social philosophy in which the welfare of the nation-state as an entity is considered paramount. Nationalism is basically a collective state of mind or consciousness in which...Browse by Subject
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