Who was Adam Smith Essay Example | Topics and Well Written Essays - 1000 words

Who was Adam Smith - Essay Example This historic distinction later became an anthropological and historical interest for those who would visit Edinburgh (Smith (b), n. d.). Smith was born in Scotland and got education in Glasgow. He also spent his academic life in Oxford and gained extensive knowledge on literature there. He became the tutor of the Duke of Buccleuc in 1752 and travelled with him a lot around France and Switzerland. This experience gave Smith an opportunity to get acquainted with Voltaire, Jean-Jacques Rousseau,  Francois Quesnay, and Anne-Robert-Jacques Turgot--his contemporaries (Smith (a), n. d.).   He spent his earning paid by the Duke to write The Wealth of Nations, which was published in 1776, the year when the American Declaration of Independence was inked (Smith (a), n. d.).   In 1778, he was appointed as the Commissioner to the Custom and this experience sharpened his understanding on trading. He fought against smuggling with much enthusiasm, according to historical accounts. He had rema ined single during his entire life and died in Edinburgh on July 19, 1790 (Smith (a), n. d.). ... d.). He published the book on the Wealth of Nations to reveal the nature and cause of a nation’s prosperity from the increasing division of labour to systematize its production (Smith (a), n. d.). He professed that individual would invest resource e.g. land and labour, to earn the highest possible return of investment but such must yield to the equal rate of return (Smith (b), n. d.). For other economist, this was the core of Smith’s proposition of economic theory. Smith advocated equality of returns to explain the differences of salaries based on the knowledge, skills, expertise and skills of workers (Smith (a), n. d.). Those difficult jobs to do would be bit higher in compensation – and this explicated the notion of human capital. Hence, the differences of the nature of work are compensated differently (Smith (a), n. d.). The Wealth of Nations likewise discussed the high cost of British imperialism and substantially—about the relation of supply and deman d (Smith (a), n. d.). He observed that economic inequities are caused by monopoly that burdened consumers of the whole expense of maintaining and defending that empire (Smith (a), n. d.). Smith opposed  mercantilism because it artificially maintained a trade surplus on the erroneous belief that doing so increases wealth (Smith (a), n. d.). Although trade opened up new markets for surplus goods offer access to commodities from abroad at a lower cost but comparative advantage of the products from the outside will weaken the price of the goods from within ((Smith (a), n. d.). Akin to most modern believers in free markets, Smith believed that the government should enforce contracts, grant patents and copyrights to motivate

Compare and contrast between Polish and American Christmas Holiday Essay

Compare and contrast between Polish and American Christmas Holiday - Essay Example The date of Christmas may have been earlier chosen to match with either the day exactly nine months after it is believed that Jesus was conceived, the date of the Roman winter solstice, or any one of the ancient winter festivals. The Christmas holiday was especially a Christian holiday celebrated by most Christians but in recent times it has seen a shift such that many non-Christians also celebrate or engage in the Christmas festivities. This day is also celebrated in different ways by different people, cultures and may involve gift giving, church celebrations, special meals and tree decorations. In other areas it is taken as a time to meet with family and neighbors and forgive each other of the past. Christmas is celebrated differently in different countries with traditions and customs that follow it. Christmas in the in the United States is a huge phenomenon. It begins in November and ends in January. It is not a single day but a long period that culminates with the New Year celebr ations. The entire period is associated with huge spending and festivities that most Americans engage into before the day of Christmas. During this time Americans decorate both the interior and the exterior of their homes. As significant decoration that is popular with the Americans is the Christmas tree. These trees are cultivated before the Christmas holiday and families and businesses including the white house order these trees that are then placed centrally in the home. It is then decorated with ornaments, tinsel and light with a star placed at the very top of the tree. This star symbolizes the star of Bethlehem that is believed to have guided the wise men in locating Jesus (USIA). The Christmas Eve, which is the day before Christmas, experiences so many activities. The day is associated with Santa Claus or Father Christmas whom it is believed that he visits homes while children are sleeping. Father Christmas is believed to fill stockings that are hung on the mantelpiece with gi fts for the children. It is a tradition for children in the United States to leave a glass of milk and a plate of cookies for Father Christmas as they go to sleep. This day is also important as people buy gifts, wrap them and place them near the tree. These presents received from parents, friends and relatives are not opened until the Christmas morning. During this day too, there is a special church service called the midnight mass, that is held during the night and people spend in the church. For families with small children candle light services are held for them and these symbolize the nativity of Christ (USIA). During the Christmas day, families open their gifts in the morning before they head for the morning service that is held to bear witness to the birth of Jesus. The whole day is usually filled with celebrations with parents and relatives spending time together. The evening is marked by a special Christmas diner where lots of a food variety is served. For most American fami lies’ sweet pastry, eggnog that is sprinkled with cinnamon and nutmeg are served. Other popular dishes served include casseroles; the deserts are usually prepared with a family recipe that is usually kept a secret. Some of the snacks that are enjoyed during this time include nuts, cheeses and chocolates. Christmas holiday in polish resembles most of the aspects found in the American Christmas holiday; however there are few exceptions for as it will be seen in the discussion. The