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Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
Theory of Value. Adam Smith.
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Theory of Value. Adam Smith.

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  • 1. Adam Smith Theory of Value
  • 2. Who is Adam Smith?
    What is Theory of Value?
    What is the utility ofthat?
  • 3. 123
    Who is Adam Smith?
  • 4. A Clown!!!
  • 5. The most reputable economist of XVIII century
    The basis of all modern economic theories
    FOR US HE IS A GOD!!!
  • 6. born in 1723 in the Kirkcaldy, Scotland
    at age 14 the University of Glasgow
    1740 Balliol College in Oxford
    1748 lectures in Edinburgh
    1751 Professor of logic at Glasgow University
    Died on July 17, 1790
  • 7. 1748 - 1785
         Theory of Moral Sentiments    
    An Inquiry into the Nature and Causes of the Wealth of Nations           Thoughts on the state of competition with America     
  • 8. 123
    What is theory of value?
  • 9. "Work is the only universal, as well as the only accurate measure of value"
  • 10.
  • 11. 2 conditions of that theory
  • 12. 1
    Value (and price) of goods is determined by labor expended on it.
    Cost - it is labor materialized in the commodity
  • 13.
  • 14. 2
    Cost (and price) is made up of cost of production of goods, in other words, from labor costs, profit and rent for land.
  • 15.
  • 16. Profit
    Rent for Land
    Salary
  • 17. 123
    What is the utility ofthat?
  • 18. 1 condition only for primitive society
    2 condition is for realistic situation in modern capitalistic world
  • 19. Thanks for attention!!!

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