TEXT ANALYSIS 2
The highlighted passage was gotten from the works, An Inquiry into the Nature and Causes of the Wealth of Nations, authored by Adam Smith. The extract is found explicitly in Chapter II of Restraints Upon Importation from Foreign Countries of Such Goods as Can Be Produced at Home.
The work from which the passage was obtained first appeared in Adam Smith’s “The Wealth of Nations.” The latter is considered as an extension of the philosophical subject established by The Theory of Moral Sentiments. The crucial problem that Smith discourses here is the way in which the internal fight between the desires and the “impartial spectator” leaves its impacts in the higher ground of history itself, both in regards to the instant features of the historical stage typical of Smith’s era and the long-run growth of the society. The solution to this problem is provided in Book V where Smith summarizes the key four steps of organization: rude, nomadic agriculture, manorial or feudal farming, commercial interdependence. Smith made it clear that institutions suitable to its demands complemented each of the phases.
According to the context of the book in which the passage was obtained, the passage emphasizes the works objective of achieving the home market monopoly and driving the society’s general industry towards an advantageous direction. Rendering to the works, the home market domination could be secure…
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