Adam Smith Argued That All Business Is Local

question 25

Essay

Adam Smith argued that all business is local.Explain what this means, including the evolution of the concept.

---

Definitions:

Corticobulbar Tract

Neural pathways that conduct impulses from the brain to the brainstem, influencing movements in the head and neck.

Rubrospinal Tract

A neural pathway in the central nervous system involved in the control of voluntary movements.

Vestibulospinal Tract

A neural pathway that sends information from the inner ear balance apparatus to the muscles involved in maintaining posture and balance.

Reticulospinal

Refers to a pathway within the central nervous system that originates in the reticular formation and influences voluntary movements and reflex activity.