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A lumber company requested from the U.S.Forest Service a timber lease to engage in clear cut logging activities in an allegedly environmental sensitive area of western Oregon.An environmental impact statement (EIS) was issued that stated that clear cutting would create an unacceptable amount of topsoil erosion and pollute several streams.Under NEPA, the U.S.Forest Service:
Adam Smith
An 18th-century Scottish economist and philosopher known as the father of modern economics, famous for his work "The Wealth of Nations."
Modern Economics
A branch of social science that studies how individuals, businesses, and governments make choices on allocating resources to satisfy their needs and wants.
The Wealth of Nations
A seminal book by Adam Smith, which discusses economics, the importance of free markets, division of labor, and productivity.
Labor
The physical and mental effort used in the production of goods and services.
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