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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Ed. 1 reads βThe engrossing, however, of uncultivated land, it has already been observed, is the greatest obstruction to its improvement and cultivation, and the labour.β β©
Ed. 1 reads βIts produce in this case.β β©
All Eds. read βpresentβ here and here, but βlateβ here. See above, this note, and below, here. β©
The figures are evidently from the βvery exact accountβ quoted below, here. β©
Juan and Ulloa, Voyage historique, tom. i, pp. 437β ββ 441, give a lurid account of the magnificence of the ceremonial. β©
Maranon in 1755 and Fernambuco four years later. ββ Raynal, Histoire philosophique, Amsterdam ed., 1773, tom. iii, p. 402 β©
Ed. 1 reads βThis, however, has.β β©
Ed. 1 reads βsaid to be.β β©
Iron sometimes at 100 Γ©cus the quintal and steel at 150. ββ Juan and Ulloa, Voyage historique, tom. i, p. 252 β©
Ed. 1 reads βthe same as that of Spain.β β©
The commodities originally enumerated in 12 Car. II, c. 18, Β§ 18, were sugar, tobacco cotton-wool, indigo, ginger, fustic and other dyeing woods. β©
Above, here through here, here through here. β©
See this note. β©
There seems to be some mistake here. The true date is apparently 1739, under the Act 12 Geo. II, c. 30. β©
Ships not going to places south of Cape Finisterre were compelled to call at some port in Great Britain. β©
Garnier, in his note to this passage, tom. iii, p. 323, points out that the islands ceded by the peace of Paris in 1763 were only Grenada and the Grenadines, but that term here includes the other islands won during the war, St. Vincent, Dominica and Tobago, which are mentioned below, here. β©
Rice was put in by 3 and 4 Ann, c. 5, and taken out by 3 Geo. II, c. 28; timber was taken out by 5 Geo. III, c. 45. β©
Anderson, Commerce, AD 1703. β©
Details are given below, here through here, in a chapter not contained in Eds. 1 and 2. β©
23 Geo. II, c. 29. β©
23 Geo. II, c. 29. Anderson, Commerce, AD 1750. β©
Hats under 5 Geo. II, c. 22; wools under 10 and 11 W. III, c. 10. See Anderson, Commerce, AD 1732 and 1699. β©
Details are given below, here through here, in a chapter which was not in Eds. 1 and 2. β©
Above, here through here. β©
The quotation is not quite verbatim. The provision is referred to above, here, where, however, see note. β©
Ed. 1 does not contain the words βthey approach more nearly to that character; and.β β©
The Board of Trade and Plantations, in a report to the House of Commons in 1732, insisted on this democratic character of the government of some of the colonies, and mentioned the election of governor by Connecticut and Rhode Island: the report is quoted in Anderson, Commerce, AD 1732. β©
The story is told in the same way in Lectures, p. 97, but Seneca, De ira, lib. iii, cap. 40, and Dio Cassius, Hist., lib. liv., cap. 23, say, not that Augustus ordered all the slaves to be emancipated, but that he ordered all the goblets on the table to be broken. Seneca says the offending slave was emancipated. Dio does not mention emancipation. β©
Ed. 1 reads βand industry.β β©
The West India merchants and planters asserted, in 1775, that there was capital worth Β£60,000,000 in the sugar colonies and that half of this belonged to residents in Great Britain. See the Continuation of Andersonβs Commerce, AD 1775. β©
Eds. 1 and 2 do not contain the words βso far as concerns their internal government.β β©
Ed. 1 reads βpersecuted.β β©
Ed. 1 reads βwith equal injustice.β β©
Raynal, Histoire philosophique, Amsterdam ed., 1773, tom. iii, pp. 323, 324, 326, 327. Justamondβs English trans., vol. ii, p. 442. β©
Velasquez. β©
Cortez. β©
βSalve magna parens frugum, Saturnia tellus, Magna virum.β ββ Virgil, Georg., ii, 173β ββ 174 β©
Eds. 1 and 2 do not contain the words βso far as concerns their internal government.β Cp. this note. β©
βNotβ appears first in ed. 3 and seems to have been inserted in error. The other countries are only excluded from a particular market, but the colonies are confined to one. β©
There is an example of revenue being furnished in Xenophon, Anab., V, v, 7, 10. β©
Above, here. β©
Above, here. β©
Above, here. β©
Above, here through here. β©
Essay on the Causes of the Decline of the Foreign Trade, Consequently of the Value of the Lands of Britain and on the Means to Restore Both, 2nd ed., 1750, pp. 28β ββ 36, et passim. β©
Ed. 1 reads βrate of the
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