Chapter Eleven: Adam Smith and Capitalism

Respond in writing to the following questions after watching this video on Adam Smith.

1.  What is the problem with ‘specialization’ according to Smith? What was Smith’s solution?

2.  What is the role of luxury consumerism according to Smith?

3.  According to Smith, how can we reform capitalism?

4.  In what ways is Adam Smith’s view of capitalism different than American capitalism?

Make sure to:

·  Write a short essay or paragraph of at least 100 words. Do not go over 250 words.

·  Use concrete examples/details and avoid generalities.

·  Address all questions.

·  Use proper grammar and punctuation.

·  If you researched your topic and are using information from what you learned, remember to cite your sources.

·  Do not plagiarize. Your work will be checked by turnitin.com.