Economic Ideas of the Enlightenment essays

Economic Ideas of the Enlightenment essays The Enlightenment is the name given to the intellectual movement that was centered in the Western World, mainly Europe, during the 18th century. The rise of modern science greatly influenced the enlightenment. It was also the aftermath of the long religious conflict that followed the Reformation. The thinkers of the Enlightenment were dedicated to secular views based on reason of human understanding, which they hoped would provide a basis for beneficial changes affecting every area of life and thought. There were many people during the Enlightenment that made an impact on the world. Many people had different opinions about what was happening and how to fix the problems facing the world at that time. One man started this change with his Encyclopedia. This man was Diderot; it was called the great work of his life. This book was a major weapon against the old French society. His book made a great impact on the people because it was so cheap that everyone could obtain a copy. With the printing of this book a new group emerged from the populace. This group, named the Physiocrats, has been viewed as the founders of the modern discipline of economics. A well-known member of this party is known for his thoughts on the old economic ideas. His name was Adam Smith and he had many economic ideas of the enlightenment. Adam Smith wrote the book Inquiry into the Nature and Causes of the Wealth of Nations. This book had three basic principles of economics. The first principle was the condemning of mercantilist use of protective tariffs to protect home industries. "A tailor does not try to make his own shoes, nor does a shoemaker try to make his own clothes." (Western Civilization pg. 493) With this line of reasoning Adam Smith was saying that a country should not try to make their own products when another country can supply them for cheaper than the one country can make it. A nation should make what it can for the least amount of mon...