Please answer all questions pertaining to the topic. What is Adam Smith’s contribution to the modern understanding of economic life? In your response, please discuss Smith’s notion of the: (1) invisible hand; and (2) innovation. Also, what is the significance of Smith’s critique of mercantilism? And what is the significance of this critique today?
(DO NOT USE THESE SOURCES: Evans Tony, Human Rights in the Global Political Economy: Critical Processes, Lynne Rienner Publishers, London, 2011. Ravenhill John, Global Political Economy (fourth edition), Oxford University Press, Oxford, 2014. Sackrey Charles, Schneider Geoffrey, and Knoedler Janet (eds.), Introduction to Political Economy (seventh edition), Dollars and Sense, Boston, 2013. Sen Amartya, Development as Freedom, Random House, New York, 1999.)
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