研究生英语 unit 1 Adam Smith.ppt

8.Yet it was necessary for reason to discover and support the institutions that directed the passions to universally beneficial ends to be said about this as long as we keep clearly in mind whether the subject is the invisible hand or the visible hand. So long as we are sure of whether the subject is the invisible or visible hand, we should use reason to support the traditions that directed the passions to good purposes. 9.The history of social institutions, a subject on which Smith wrote with erudition, shows that exclusion or inclusion of those for whom we feel moral sentiments is not fixed once and for all but depends on how we define “us and them”. Nothing in Darwin contradicts Smith. The history of social traditions and laws is a subject on which smith write with his profound knowledge . It indicates that whether we include or exclude those we give moral thoughts to is not fixed irreversibly but depends on the definitions we give “us and them”. 10.But the single-minded pursuit of self-interest nevertheless results in the general good, as we all know, because free competition forces prices to the lowest level compatible with the costs of land, labor, and capital. But he pursuit of interest will lead to the good result, because free competition will force the prices to go down to the level correspondent with the cost of labor, land and capital. 11.Smith knew moral sentiments cannot survive the effects of alienation. Smith believed under the impact of alienation morality can no longer exist. Part II: Para 10-22 Main idea: Adam smith is both right and wrong. He was right about the power of moral sentiments and effectiveness of the free market. He was wrong in that he could not predict what would happen in the next 200 years. Q1.What is the result of the growth of the market? Increasing division of labor More specialization Greater productivity Q2.Para.11 tells us that Smith is neither a friend of business nor a friend of workers, why? He scores the practi