The Wealth of Nations by Adam Smith (the best motivational books .TXT) π
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The Wealth of Nations is economist Adam Smithβs magnum opus and the foundational text of what today we call classical economics. Its publication ushered in a new era of thinking and discussion about how economies function, a sea change away from the older, increasingly-irrelevant mercantilist and physiocratic views of economics towards a new practical application of economics for the birth of the industrial era. Its scope is vast, touching on concepts like free markets, supply and demand, division of labor, war, and public debt. Its fundamental message is that the wealth of a nation is measured not by the gold in the monarchβs treasury, but by its national income, which in turn is produced by labor, land, and capital.
Some ten years in the writing, The Wealth of Nations is the product of almost two decades of notes, study, and discussion. It was released to glowing praise, selling out its first print run in just six months and going through five subsequent editions and countless reprintings in Smithβs lifetime. It began inspiring legislators almost immediately and continued to do so well into the 1800s, and influenced thinkers ranging from Alexander Hamilton to Karl Marx.
Today, it is the second-most-cited book in the social sciences that was published before 1950, and its legacy as a foundational text places it in the stratosphere of civilization-changing books like Principia Mathematica and The Origin of Species.
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- Author: Adam Smith
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1 Ann., stat. 2, c. 18, applied to workmen in the woollen, linen, fustian, cotton and iron manufacture; 13 Geo. II, c. 8, to manufacturers of gloves, boots, shoes and other leather wares. The second of these Acts only prohibits truck payments when made without the request and consent of the workmen. β©
C. 29. β©
C. 6. The preamble relates the defect. β©
Above, here. β©
βByβ appears first in ed. 3. β©
Eds. 1 and 2 read βThe rent of land varies with its fertility, whatever be its produce, and with its situation, whatever be its fertility.β β©
Above, here through here. β©
Vol. i, p. 532, in the French translation of Juan and Ulloaβs work, Voyage historique de lβAmΓ©rique mΓ©ridionale par don George Juan et don Antoine de Ulloa, 1752. The statement is repeated in almost the same words, substituting βthree or four hundredβ for βtwo or three hundred,β below, p. 186. β©
See below, here and here. β©
Cicero, De officiis, lib. ii. ad fin. Quoted in Lectures, p. 229. β©
See below, here. β©
The Life of Henry Prince of Wales, by Thomas Birch, D.D., 1760, p. 346. β©
The Life of Henry Prince of Wales, p. 271. β©
A Report from the Committee Who, Upon the 8th Day of February, 1764, Were Appointed to Inquire Into the Causes of the High Price of Provisions with the Proceedings of the House Thereupon. Published by order of the House of Commons, 1764, paragraph 4, where, however, there is no definite statement to the effect that the Virginia merchant, Mr. Capel Hanbury, considered 24s. or 25s. as the ordinary price. β©
Report from the Committee, paragraph 3 almost verbatim. The Committee resolved βthat the high price of provisions of late has been occasioned partly by circumstances peculiar to the season and the year, and partly by the defect of the laws in force for convicting and punishing all persons concerned in forestalling cattle in their passage to market.β β©
These prices are deduced from the tables at the end of the chapter. β©
Only if the extra risk deters people from entering the business, and according to pp. 112, 113 above it would not. β©
Ed. 1 reads βthorns.β β©
Columella, De re rustica, xi, 3, but the recommendation of the fence is βEt haec quidem claudendi horti ratio maxime est antiquis probata.β β©
Gesnerusβ edition of Columella in Scriptores rei rusticae in Adam Smithβs library (see Bonarβs Catalogue, s.v. Gesnerus), commenting on the passage referred to above, quotes the opinions of Varro, De re rustica, i, 14, and Palladius, De re rustica, i, 34. β©
De re rustica, iii, 3. β©
Ed. 1 reads βtheir.β β©
Voyages dβun Philosophe ββ Smith
Ou observations sur les mΕurs et les arts des peuples de lβAfrique, de lβAsie, et de lβAmΓ©rique, 1768, pp. 92, 93. The note appears first in ed. 2 ββ Cannan β©
The French original says the Cochin-China quintal βΓ©quivaut Γ Β£150 200 de nos livres, poids de marc,β which cannot possibly bear the meaning ascribed to it in the text. Probably the Β£150 are pounds equal to 1β of the pounds poids de marc. This would make the cwt. English worth only about seven shillings. β©
Tobacco growing in England, Ireland, and the Channel Islands was prohibited by 12 Car. II, c. 34, the preamble of which alleges that the lords and commons have considered βof how great concern and importance it is that the colonies and plantations of this kingdom in America be defended, maintained and kept up, and that all due and possible encouragement be given unto them, and that not only in regard great and considerable dominions and countries have been thereby gained and added to the imperial crown of this realm, but for that the strength and welfare of this kingdom do very much depend upon them in regard of the employment of a very considerable part of its shipping and seamen, and of the vent of very great quantities of its native commodities and manufactures as also of its supply with several considerable commodities which it was wont formerly to have only from foreigners and at far dearer rates, and forasmuch as tobacco is one of the main products of several of those plantations and upon which their welfare and subsistence and the navigation of this
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