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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The words βone ofβ do not occur in Eds. 1 and 2. They are perhaps a misprint for βsome ofβ or a misreading suggested by a failure to understand that βhis own lifeβ is that of Marcus Antoninus. See Lucian, Eunuchus, iii. β©
Above, here. β©
Ed. 1 reads βthe minds of men are not.β β©
Ed. 1 reads βfrom.β β©
Ed. 1 reads βthe.β β©
Ed. 1 reads βas it is capable of being.β β©
Ed. 1 reads βthe use of those members.β β©
Eds. 1β ββ 3 read βis.β β©
In Discourses on the First Decade of Titus Livius, book iii, chap. i. β©
The original reads βfinances, armies, fleets.β β©
Hume, History, chap. xxix, vol. iv, pp. 30, 31, in ed. of 1773, which differs verbally both from earlier and from later editions. β©
Ed. 1 reads βof each sect.β β©
Ed. 1 reads βthe most numerous sect.β β©
Ed. 1 reads βof each sect.β β©
Ed. 1 reads βRoman Catholic church.β β©
Ed. 1 does not contain βand.β β©
These nine words are not in ed. 1. β©
Ed. 1 reads βgreat and consistorial.β β©
Daniel, Histoire de France, 1755, tom. vii, pp. 158, 159; tom. ix, p. 40. β©
βIl ne lui resta que deux domestiques pour le servir et lui prΓ©parer Γ manger, encore faisaient-ils passer par le feu les plats oΓΉ il mangeait, et les vases oΓΉ il buvait pour les purifier, comme ayant Γ©tΓ© fouillΓ©s par un homme retranchΓ© de la communion des fidΓ¨les.β ββ Daniel, Histoire de France, 1755 tom. iii, pp. 305β ββ 306. HΓ©naultβs account is similar, Nouvel AbrΓ©gΓ© chronologique, 1768, tom. i, p. 114, AD 996. β©
Ed. 1 reads βby the general prevalence of those doctrines.β β©
Eds. 1 and 2 read βtake party.β β©
The βAct concerning Patronages,β 53rd of the second session of the first parliament of William and Mary, is doubtless meant, but this is a separate Act from the βAct ratifying the Confession of Faith and settling Presbyterian Church Government,β Acts of the Parliaments of Scotland, 1822, vol. ix, pp. 133, 196. β©
The preamble of the Act mentions βthe great hardship upon the patronsβ as well as the βgreat heats and divisions.β β©
Ed. 1 reads βsmall benefice.β β©
Voltaireβs expression is not quite so strong as it is represented. He says in the catalogue of writers in the SiΓ¨cle de Louis XIV, βPorΓ©e (Charles), nΓ© en Normandie en 1675, JΓ©suite, du petit nombre des professeurs qui ont eu de la cΓ©lΓ©britΓ© chez les gens du monde. Eloquent dans le goΓ»t de SΓ©nΓ¨que, poΓ©te et trΓ¨s bel esprit. Son plus grand mΓ©rite fut de faire aimer les lettres et la vertu Γ ses disciples. Mort en 1741.β β©
Quaere as to Suetonius. Ed. 1 continues here βSeveral of those whom we do not know with certainty to have been public teachers appear to have been private tutors. Polybius, we know, was private tutor to Scipio Γmilianus; Dionysius of Halicarnassus, there are some probable reasons for believing, was so to the children of Marcus and Quintus Cicero.β β©
The Lectures leave little doubt that this is a fragment of autobiography. β©
Ed. 5 reads βexpenses,β but this seems to be a misprint or misreading suggested by the fact that several expenses have been mentioned. β©
See Memoires concernant les Droits & Impositions en Europe: tom. i page 73. This work was compiled by the order of the court for the use of a commission employed for some years past in considering the proper means for reforming the finances of France. The account of the French taxes, which takes up three volumes in quarto, may be regarded as perfectly authentic. That of those of other European nations was compiled from such informations as the French ministers at the different courts could procure. It is much shorter, and probably not quite so exact as that of the French taxes. ββ Smith
The book is by Moreau de Beaumont, Paris, 1768β ββ 9, 4 vols., 4to. The correct title of vol. i is MΓ©moires concernant les Impositions et Droits en Europe; vols. ii.-iv are MΓ©moires concernant les Impositions et Droits, 2nde. Ptie., Impositions et Droits en France. Smith obtained his copy through Turgot, and attached great value to it, believing it to be very rare. See Bonar, Catalogue, p. 10. ββ Cannan β©
History of Florence, book viii, ad fin. β©
Details are given above, here, but that is in a passage which appears first in ed. 3. β©
Above, here. β©
See Memoires concernant les Droits & Impositions en Europe; tom. i. p. 73. β©
The figures are those of the Land Tax Acts. β©
See on these estimates Sir Robert Giffen, Growth of Capital, 1889, pp. 89, 90. β©
See Sketches of the History of Man 1774, by Henry Home, Lord Kames, vol. i page 474 & seq. ββ Smith
This author at the place quoted gives six βgeneral rulesβ as to taxation:β β
βThat wherever there
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