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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Memoires concernant les Droits, etc. tom. i. p. 157. β©
Memoires concernant les Droits, etc. tom. i. p. 223, 224, 225. β©
Ed. 1 reads βor the mortgage.β β©
Ed. 1 reads βgive only.β β©
Ed. 1 does not contain βneat.β β©
The word is used in its older sense, equivalent to the modern βpamphlets.β See Murray, Oxford English Dictionary, s.v. β©
Ed. 1 does not contain βin proportion to the tax.β β©
Ed. 1 does not contain βin that proportion.β β©
Memoires concernant les Droits, etc. tom. ii. p. 108. β©
Memoires concernant les Droits, tom. iii really i p. 87. β©
Above, here through here. β©
βWas supposed to beβ is equivalent to βwas nominally but not really.β β©
Eds. 1 and 2 read βa real tax of five shillings in the pound upon the salaries of offices which exceeded a hundred pounds a year; those of the judges and a few others less obnoxious to envy excepted.β Under 31 Geo. II, c. 22, a tax of 1s. in the pound was imposed on all offices worth more than Β£100 a year, naval and military offices excepted. The judges were not excepted, but their salaries were raised soon afterwards. See Dowell, History of Taxation and Taxes, vol. ii, pp. 135β ββ 136. The 6d. seems a mistake; the 5s. is arrived at by adding the 4s. land tax (which was βrealβ in the case of offices) and the 1s. β©
The first of these is under 1 W. and M., sess. 1, c. 13. β©
1 W. and M., sess. 2, c. 7, Β§ 2. β©
Under 1 W. and M., c. 13, Β§ 4, serjeants, attorneys and proctors, as well as certain other classes, were to pay 3s. in the pound on their receipts. Under 1 W. and M., sess. 2, c. 7, Β§ 2, attorneys and proctors and others were to pay 20s. in addition to the sums already charged. Under 2 W. and M., sess. 1, c. 2, Β§ 5, serjeants-at-law were to pay Β£15, apparently in addition to the 3s. in the pound. Under 3 W. and M., c. 6, the poundage charge does not appear at all. The alterations were doubtless made in order to secure certainty, but purely in the interest of the government, which desired to be certain of getting a fixed amount. Under the Land Tax Act of 8 and 9 W. III, c. 6, Β§ 5, serjeants, attorneys, proctors, etc., are again charged to an income tax. β©
Ed. 1 reads βportion.β β©
MΓ©moires, tom. ii, p. 421. β©
Dr. John Arbuthnot, in his Tables of Ancient Coins, Weights and Measures, 2nd ed., 1754, p. 142, says that linen was not used among the Romans, at least by men, till about the time of Alexander Severus. β©
In Lectures, p. 179, and above in ed. i, vol. i, p. 430, note, beer seems to be regarded as a necessary of life rather than a luxury. β©
See Book I, Chap. VIII. β©
1 Geo. III, c. 7. β©
Leather is Deckerβs example, Essay on the Decline of the Foreign Trade, 2nd ed., 1750, pp. 29, 30. See also p. 10. β©
See Dowell, History of Taxation and Taxes, 1884, vol. iv, pp. 318, 322, 330. β©
Saxby, British Customs, p. 307. 8 Ann., c. 4; 9 Ann., c. 6. β©
Above, here. β©
Memoires concernant les Droits, etc. p. 210, 211 and 233. See below, here. β©
Le Reformateur, Amsterdam, 1756. Garnier in his note on this passage, Recherches, etc., tom. iv, p. 387, attributes this work to Clicquot de Blervache, French Inspector-general of Manufactures and Commerce, 1766β ββ 90, but later authorities doubt or deny Clicquotβs authorship. See Jules de Vroil, Γtude sur Clicquot-Blervache, 1870, pp. xxxi-xxxiii. β©
De Divinatione, ii, 58, βSed nescio quomodo nihil tam absurde dici potest quod non dicatur ab aliquo philosophorum.β β©
Essay on the Causes of the Decline of the Foreign Trade, 2nd ed., 1750, pp. 78β ββ 163. β©
Eds. 1β ββ 3 read βwas.β β©
Eds. 1 and 2 read βwhich.β β©
Eds. 1β ββ 3 read βwas.β β©
Above, here and here. β©
Gilbert, Treatise on the Court of Exchequer, 1758, p. 224, mentions a Book of Rates printed in 1586. Dowell, History of Taxation and Taxes, 1884, vol. i, pp. 146, 165, places the beginning of the system soon after 1558. β©
C. 23. β©
2 and 3 Ann., c. 9; 3 and 4 Ann., c. 5. β©
21 Geo. II, c. 2. β©
32 Geo. II, c. 10, on tobacco, linen, sugar and other grocery, except currants, East India goods (except coffee and raw silk), brandy and other spirits (except colonial rum), and paper. β©
Ed. 1 reads, more intelligibly, βlater.β Another example of this unfortunate change occurs below, here. β©
Above, here, written after the present
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