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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9 Ann., c. 11. β©
This passage, from the beginning of the paragraph, is quoted at length below, here. β©
John Smith, Memoirs of Wool, vol. i, p. 25, explains that the words βIt shall be felony to carry away any wool out of the realm until it be otherwise ordainedβ do not imply a perpetual prohibition. β©
The same words occur above, here. β©
Ed. 1 does not contain βetc.β β©
The arithmetic is slightly at fault. It should be, βhappened to lose a fourth, a fifth, or a sixth part of its former value.β β©
Below, here. β©
Above, here. β©
Recherches sur la Population, pp. 293β ββ 304. β©
Essai sur les monnoies ou rΓ©flections sur le rapport entre lβargent et les denrΓ©es, 1746, esp. p. 181 of the βVariations dans les prix.β β©
Above, here. β©
Lectures, pp. 159, 164. β©
Ed. 1 does not contain βbut.β β©
C. 8. β©
C. 5. The quotations from this Act and from 4 Hen. VII, c. 8, are not quite verbatim. β©
βDr. Howell in his History of the World, vol. ii, p. 222, relates βthat Queen Elizabeth, in this third year of her reign, was presented with a pair of black knit silk stockings by her silk woman, Mrs. Mountague, and thenceforth she never wore cloth ones any more.β This eminent author adds βthat King Henry VIII, that magnificent and expensive Prince, wore ordinarily cloth hose, except there came from Spain, by great chance, a pair of silk stockings; for Spain very early abounded in silk. His son, King Edward VI, was presented with a pair of long Spanish silk stockings by his merchant, Sir Thomas Gresham, and the present was then much taken notice of.β Thus it is plain that the invention of knit silk stockings originally came from Spain. Others relate that one William Rider, an apprentice on London Bridge, seeing at the house of an Italian merchant a pair of knit worsted stockings from Mantua, made with great skill a pair exactly like them, which he presented in the year 1564 to William Earl of Pembroke, and were the first of that kind worn in England.β ββ Adam Anderson, Historical and Chronological Deduction of the Origin of Commerce, 1764, AD 1561 β©
Above, here through here. β©
Towards the end of chapter X the same words occur, omitting βvery.β β©
Above, here. β©
Above, here through here. β©
As is explained above, here, the prices from 1202 to 1597 are collected from Fleetwood (Chronicon Preciosum, 1707, pp. 77β ββ 124), and from 1598 to 1601 they are from the Eton College account without any reduction for the size of the Windsor quarter or the quality of the wheat, and consequently identical with those given in this table, as to which see this note. β©
In the reduction of the ancient money to the eighteenth century standard the tabel in Martin Folkes (Table of English Sliver Coins, 1745, p. 142) appears to have been follwed. Approximate figures are aimed at (e.g., the factor 3 does duty both for 2906 and 2871), and the error is not always uniform e.g., between 1464 and 1497 some of the sums appear to have been multiplied by the approximate 1Β½ and others by the exact 155. β©
This should be 2s. 7ΒΌd. The mistake is evidently due to the 3s. 4d. belonging to the year 1287 having been erroneously added in. β©
Sic in all editions. More convenient to the unpractised eye in adding up than βΒ½.β β©
βAnd sometime xxs. as H. Knighton.β ββ Fleetwood, Chronicon Preciosum, p. 82 β©
Miscopied: it is Β£2 13s. 4d. in Fleetwood, Chronicon Preciosum, p. 92. β©
Obviously a mistake for Β£2 11s. 4d. β©
This should be 17s. 7d. here and in the next column. Eds. 1 and 2 read β12s. 7d.,β a mistake of Β£1 having been made in the addition. β©
This should obviously be 10s. β΅βββd. Eds. 1 and 2 read βΒ£6 5s. 1d.β for the total and β10s. 5d.β for the average, in consequence of the mistake mentioned in the preceding note. β©
Miscopied: it is Β£2 13s. 4d. in Fleetwood, Chronicon Preciosum, p. 123. β©
See this note. β©
Eds. 1 and 2 read Β£2 4s. 9β d., the 89s. left over after dividing the pounds having been inadvertently divided by 20 instead of by 12. β©
The list of prices, but not the division into periods, is apparently copied from Charles Smith (Tracts on the Corn Trade, 1766, pp. 97β ββ 102 cp. pp. 43, 104), who, however, states that it had been previously published, p. 96. β©
Wanting in the account for the years 1642β ββ 1645. The year 1646 supplied by Bishop Fleetwood. ββ Smith β©
This should be βΉβββ. β©
Lectures, p. 181. β©
Eds. 1 and 2 place the βonlyβ here. β©
βCe nβest pas cette maison qui produit elle-mΓͺme ces mille francs.β ββ β¦ Le loyer dβune maison nβest point pour la
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