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Essay text:
In his famous work, The Wealth of Nations, Smith explores the various dimensions and channels through which nations can create wealth; he enumerates on the importance of division of labor as well as the key role of exchange. Even though Smith receives much criticism for his work as limited in its scope but it is this author's thesis that Smith's work, The Wealth of Nations, presents a commonality and applicability of principles that even people of today can find in society and nations.
Background
Scotland during the early 18th century severely lagged behind England due to the poverty stricken economical conditions...
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