The Wealth of Nations by Adam Smith (the best motivational books .TXT) ๐
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The Wealth of Nations is economist Adam Smithโs 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 monarchโs 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 Smithโs 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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The statement is too sweeping. See Statutes of the Realm, vol. i, pp. xxiv and 199, notes. Ruffheadโs edition began to be published in 1762. โฉ
Judicium Pillorie, temp. incert., ascribed to 51 Hen. III, stat. 6. โฉ
Eds. 1 and 2 read โRudiman.โ โฉ
See his preface to Andersonโs Diplomata Scotiae. โโ Smith
Selectus diplomatum et numismatum Scotiae thesaurus, 1739, p. 82, and in the translation, An Introduction to Mr. James Andersonโs Diplomata Scotiae, by Thomas Ruddiman, M.A., Edinburgh, 1773, pp. 170, 174, 228. The note appears first in ed. 2. โโ Cannan โฉ
The manuscript appears to be the Alexander Foulis MS., now 25. 4. 10 in the Edinburgh Advocatesโ Library, No. viii of the MSS., described in Acts of the Parliaments of Scotland, vol. i. The exact words are โMemorandum quod reliqua judicabis secundum praedicta habendo respectum ad praescripta bladi precium duplicando.โ โฉ
Chronicon Preciosum, p. 78. Fleetwood quotes the author of Antiq. Britan. in Vita Joh. Pecham as saying that โprovisions were so scarce that parents did eat their own children.โ โฉ
Eds. 1 to 3 read โvariations.โ โฉ
See this table. โฉ
This appears to be merely an inference from the fact that he does not take notice of fluctuations. โฉ
Above, here. โฉ
Ed. 1 reads โthatโ instead of โbecause,โ here and also two lines above. โฉ
Voyage historique de lโAmรฉrique mรฉridionale, vol. i, p. 552, where, however, the number of cattle is two or three hundred, as correctly quoted above, here. โฉ
Narrative of the Hon. John Byron, Containing an Account of the Great Distresses Suffered by Himself and His Companions on the Coast of Patagonia from 1740 to 1746, 1768, pp. 212, 220. โฉ
Misprinted โimprovedโ in ed. 5. โฉ
Above, here. โฉ
Ed. 1 reads โhad they not been agreeable to the popular notion.โ โฉ
Above, here. โฉ
This sentence is not in ed. 1. โฉ
In 1545. Ed. 1 reads โthirtyโ instead of โtwenty.โ In ed. 2 the correction is in the errata. See this note and this note. โฉ
See this table at the end of the chapter. โฉ
The deduction of this ninth is recommended by Charles Smith, Three Tracts on the Corn Trade and Corn Laws, 2nd ed., 1766, p. 104, because, โit hath been found tha the value of all the wheat fit for bread, if mixed together, would be eight-ninths of the value of the best wheat.โ โฉ
By 1 W. & M., c. 12, โAn act for the encouraging the exportation of corn,โ the preamble of which alleges that โit hath been found by experience, that the exportation of corn and grain into foreign parts, when the price thereof is at a low rate in this kingdom, hath been a great advantage not only to the owners of land but to the trade of this kingdom in general.โ It provides that when malt or barley does not exceed 24s. per Winchester quarter, rye 32s. and wheat 48s. in any port, every person exporting such corn on an English ship with a crew at least two-thirds English shall receive from the Customs 2s. 6d. for every quarter of barley or malt, 3s. 6d. for every quarter of rye and 5s. for every quarter of wheat. โฉ
Below, here through here. โฉ
In place of โHow far the bounty could produce this effect at any time I shall examine hereafter: I shall only observe at present that,โ ed. 1 reads simply โBut.โ โฉ
For โnotโ ed. 1 reads โno,โ and for โany suchโ it reads โthis.โ โฉ
The Act 10 Will. III, c. 3, prohibits exportation for one year from 10th February, 1699. The mistake โnine monthsโ is probably due to a misreading of C. Smith, Tracts on the Corn Trade, p. 9, wheat โgrowing, and continuing dearer till 1698, the exportation was forbid for one year, and then for nine months the bounty was suspendedโ (cp. pp. 44, 119). As a matter of fact, the bounty was suspended by 11 & 12 Will. III, c. 1, from 9th February, 1699, to 29th September, 1700, or not much more than seven months and a half. The Act 11 & 12 Will. III, c. 1, alleges that the Act granting the bounty โwas grounded upon the highest wisdom and prudence and has succeeded to the greatest benefit and advantage to the nation by the greatest encouragement of tillage,โ and only suspends it because โit appears that the present stock and quantity of corn in this kingdom may not be sufficient for the use and service of the people at home should there be too great an exportation into parts beyond the seas, which many persons may be prompted to do for their own private advantage and the lucre of the said bounty.โ โโ Statutes of the Realm, vol. vii, p. 544 โฉ
For โdebasementโ ed. 1 reads โdegradation.โ โฉ
Lowndes says on p. 107 of his Report Containing an Essay for the Amendment of the Silver Coins, 1695, โthe moneys commonly current are diminished near one-half, to wit, in a proportion something greater than that of
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