...ECONOMICS OF ENDOGAMY It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy. Adam Smith, The Wealth of Nations UNLIKE THE commercial interventions of Uncle Gardiner in Pride and...

...Wealth of Nations: It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy....tailor does not attempt to make his own shoes, but he buys them from the shoemaker. The shoemaker does not attempt to make his own cloths, but employs...

...Chapter II. S. 422 ("It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy. [...l What is prudence in the conduct of every private family, can scarce be folly in that of a great...

...Länder Anreiz genug, innerhalb der rasch expandierenden Weltwirtschaft zu bleiben. Schlußfolgerungen The tailor does not attempt to make his own shoes, but buys them ofthe shoemaker. The shoemaker does not attempt to make his own clothes, but employs a tailor. The...

...nations. He stated that "it is a maxim of every prudent master of a family never to attempt to make at home what it will cost him more to make than to buy." He later continued that What is prudence in the conduct of every private family, can scarce be folly...

...nature of the gains from trade: "It is a maxim of every prudent master, never to attempt to make at home what it will cost him more to make than to buy" (Smith 1937, 422). Cost savings in individual countries on producing any given output level necessarily...

...specialization in domestic economic activity could be extended to international economic activity:1 The tailor does not attempt to make his own shoes,...attempt to make his own clothes, but employs a tailor . . . What is prudence in the conduct of every private family, can scarcely be folly in that of a great...

...generally be hurtful. It is the maxim of every prudent master of a family never to attempt to make at home what it will cost him more to make than to buy....The tailor does not attempt to make his own shoes, bat buys them of the shoemaker. The shoemaker does not attempt to make his own clothes, but employs...

...specialization. As Smith state It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy ... If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better...

...Free Trade Adam Smith: 1) "It is the maxim of prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy.... What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom....