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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This sentence and the nine words before it are repeated below, here. β©
βDercyllidasβ appears to be a mistake for Antiochus. See Xenophon, Hellenica, vii, i, Β§ 38. β©
Ed. 1 reads βthereby increase.β β©
See above, here. β©
See below, here through here. β©
11 and 12 Ed. III, c. 3; 4 Ed. IV, c. 7. β©
6 Geo. III, c. 28. β©
By the additional duties, 7 Geo. III, c. 28. β©
Misprinted βmanufacturesβ in ed. 5. β©
This sentence appears first in Additions and Corrections and ed. 3. β©
Ed. 1 reads βcertain.β β©
Above, here through here. β©
Ed. 1 reads βtheβ here. β©
Ed. 1 reads βaugmenting,β which seems more correct. β©
Above, here, and below, here through here. β©
Eds. 1β ββ 3 read βwasβ here and six lines lower down. β©
Charles Smith, Three Tracts on the Corn-Trade and Corn-Laws, pp. 144β ββ 145. The same figure is quoted below, here. β©
Ed. 1 does not contain the words βin the actual state of tillage.β β©
Eds. 1β ββ 3 read βwas.β β©
Joseph Van Robais in 1669. ββ John Smith, Memoirs of Wool, vol. ii, pp. 426, 427, but neither John Smith nor Charles King, British Merchant, 1721, vol. ii, pp. 93, 94, gives the particular stipulation mentioned. β©
Cato, De re rustica, ad init., but βQuestusβ should of course be βquΓ¦stus.β β©
12 Car. II, c. 18, βAn act for the encouraging and increasing of shipping and navigation.β β©
§§ 1 and 6. β©
§§ 8 and 9. Eds. 1 and 2 read βship and cargo.β The alteration was probably made in order to avoid wearisome repetition of the same phrase in the three paragraphs. β©
Β§ 4, which, however, applies to all such goods of foreign growth and manufacture as were forbidden to be imported except in English ships, not only to bulky goods. The words βgreat variety of the most bulky articles of importationβ occur at the beginning of the previous paragraph, and are perhaps copied here by mistake. β©
Β§ 5. β©
In 1651, by βAn act for the increase of shipping and encouragement of the navigation of this nation,β p. 1,449 in the collection of Commonwealth Acts. β©
By 25 Car. II, c. 6, Β§ 1, except on coal. The plural βactsβ may refer to renewing acts. Anderson, Commerce, AD 1672. β©
Ed. 1 contains the words βmalt, beerβ here. β©
Below, here through here. β©
Ed. 1 reads βit is.β β©
The importation of bone lace was prohibited by 13 and 14 Car. II, c. 13, and 9, and 10 W. III, c. 9, was passed to make the prohibition more effectual. By 11 and 12 W. III, c. 11, it was provided that the prohibition should cease three months after English woollen manufactures were readmitted to Flanders. β©
Ed. 1 reads βinjury ourselves, both to those classes and to.β β©
Above, here through here. β©
12 Car. II, c. 16; 12 Ann., st. 1, Β§ 13; 3 Geo. III, c. 8, gave this liberty after particular wars. β©
Ed. 1 reads βUtopea.β β©
Below, here through here. β©
Ed. 1 contains no part headings and does not divide the chapter into parts. β©
18 Geo. II, c. 36; 7 Geo. III, c. 43. β©
4 W. and M., c. 5, Β§ 2. β©
7 and 8 W. III, c. 20; but wine and vinegar were excepted from the general increase of 25 percent as well as brandy, upon which the additional duty was Β£30 per ton of single proof and Β£60 per ton of double proof. β©
See below, here through here. β©
Nearly all the matter from the beginning of the chapter to this point appears first in Additions and Corrections and ed. 3. Eds. 1 and 2 contain only the first sentence of the chapter and then proceed, βThus in Great Britain higher duties are laid upon the wines of France than upon those of Portugal. German linen may be imported upon paying certain duties; but French linen is altogether prohibited. The principles which I have been examining took their origin from private interest and the spirit of monopoly; those which I am going to examine from national prejudice and animosity.β β©
See Anderson, Commerce, AD 1601, and see above, here through here. β©
Ed. 1 reads βa great part.β β©
Ed. 1 reads βThe course of exchange, at least as it has hitherto been estimated, is, perhaps, almost equally so.β β©
Here and three lines above Eds. 1 and 2 read βitβ instead of βthat other.β β©
Ed. 1 reads βcommon.β β©
This paragraph is absent in ed. 1, but the substance of it occurs in a paragraph lower down, omitted in ed. 2 and later Eds. See below, this note. β©
In place of this paragraph ed. 1 reads, βBut though this
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