Metropolis Opinion

Economists know Adam Smith as Economic Father, Father of Trade and Father of Specialization.

He had popular slogan, if you want to be rich, Trade now! Smith believes that through Trading, a nation can be rich. His phenomenal book, The Wealth of Nation gives us rich information, information about how a nation can be reach. Adam Smith is also called as Father of Colonialism, because though his idea, the wealth of nations, WEST turn to war, conqueror nation with high resources. Smith is sounder of Mercantile Thought, Gold as Wealth and Rich Symbol. Gold in Africa had been extinct, Yellow Sandalwood too in my island Flores and many place with High recourses will charmed WEST.

Smith thought covered to Specialization. He said, we can win (surplus) with other nation if our Cost is lowest. The battle is how much cost (money) you spent to produce INPUT to OUTPUT.

The implementation of his thought is Absolute Advantages. Absolute advantages could be read as Lower Cost to produce. If you have much wool than your neighbor, please sell the wool or you can produce any good that came from the INPUT WOOL. I think that is an Adam Smith Implementation.

Specialization on human talent also covered in his book. Smith suggests that people can learn or follow the training so they can produce something. Smith doesn’t believe to talent. Training is the best method for people. For example, a man born with music talent and he has no talent in farming. Smith believes the man can work as farmer; he just needs training from expert so he can farm.

Smith’s Specialization looks like a compulsion to people. If you dislike with me, I can teach you how to love me! The logic is like that.

 
Additional Information for readers, in near I will post a new category, Economic Thought, Their Life, Background, Their Journey, Idea and Their Brilliant Idea and Contribution to Economic. Smith will take as first post, because His Theory or Idea is best for me, International Trade and Specialization. I know that before Smith, we know Christian Thought, Plato, Socrates, and others famous people who contribute their Idea to Economic.

Happy Week End and See you in next Monday.