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Fall 2005

ISSN 0890-913X

Volume 21, Number 1

Categories: Liberalism | Fall 2005

Remarks upon receiving the 2005 Adam Smith Award from the Association of Private Enterprise Education

Manuel F. Ayau, The Liberty Fund

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JournalofPtivateEntetprise,VolumeXXI,Fall2005Remarksuponreceivingthe2005AdamSmithA2vardfromtheAssociationofPrivateEnterpriseEducationManuelF.AyauTheLibertyFundFirst,letmetellyouhowhonoredandpleasedIamtoberecognizedbythisdistinguishedfreedomlovingAssociation.Especially,becausewhenIlookaround,Iseesomanyofmymentors.So,thankyouverymuchforbestowingyourAdamSmithAwardonme.SinceIamtalkingtomanyintheprofessionofteachingeconomics,ImustdisclosethatIbecameaprofessorofeconomicsonlybecauseIhappenedtobeintheprivilegedpositionwhereIcouldappointmyself.So,Iwouldliketorelatepartofmyexperienceintheprocessofdiscoveringthatdisciplinecalledeconomics:WhenIwaslearningengineeringincollege,Itookarequiredcourseineconomics.IfounditsononsensicalthatImadetheresolutionneveragaintoopenabookonthatdismalscience.Recently,Ileafedthroughthetextbookwewereassignedandconfirmedmybadopinion.Idon'tknowhowIpassedthecoursebecauseIdidn'tunderstandathing.Fortunatelyyearslater,andthankstotheFoundationforEconomicEducation,Ifoundeconomicsandwasfascinatedbyit.ImmediatelyIrealizeditwasanecessarytooltounderstandtheworldwelivein.Itseemstomeunfortunatethatinmostwidelyusedcollegetextbooksoneconomics,"TheGeneralTheoryofExchange,"asProf.PascalSalinproperlyreferstothelawofcomparativeadvantageor,better,comparativecosts,isrelegatedtothelatterpartofthetextswhendealingwithinternationaltrade.Itisthenthatthetheoryofcomparativeadvantageisdwelledupon,eventhoughinternationaltradeisjustoneparticularcaseofthephenomenaofexchange.IamparticularlyManuelF.Ayau1

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Title	Remarks upon receiving the 2005 Adam Smith Award from the Association of Private Enterprise Education
Authors/Creators:	Manuel F. Ayau, The Liberty Fund
Year:	2005
Volume:	21
Number:	1
Pages:	1 - 7
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Liberalism, Division of labour, Justice, Trade

Citation:
Ayau, Manuel F. / 2005. "Remarks upon receiving the 2005 Adam Smith Award from the Association of Private Enterprise Education." The Journal of Private Enterprise, 21(1): 1-7.