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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Sur la lΓ©gislation et le commerce des grains (by Necker), 1775, ch. viii, estimates the population at 24,181,333 by the method of multiplying the deaths by 31. β©
Above, here through here. β©
Below, here. β©
Above, here through here. β©
Above, here. β©
Cp. here. β©
Above, here. β©
Repeated verbatim from here. β©
Above, here. β©
Above, here. β©
Ed. 5 omits βalong,β doubtless by a misprint. β©
See Examen des Reflections politiques sur les Finances. ββ Smith
P. J. Duverney, Examen du livre intitulΓ© RΓ©flections politiques sur les finances et le commerce (by Du Tot), tom. i, p. 225. ββ Cannan β©
James Postlethwayt, History of the Public Revenue, 1759, pp. 14, 15, mentions discounts of 25 and 55 percent. The discount varied with the priority of the tallies and did not measure the national credit in general, but the probability of particular taxes bringing in enough to pay the amounts charged upon them. β©
Ed. 1 reads βunprovident,β as do all editions below, here. β©
James Postlethwayt, History of the Public Revenue, p. 38. Ed. 5 misprints β9Β½d.β β©
James Postlethwayt, History of the Public Revenue, p. 40. β©
James Postlethwayt, History of the Public Revenue, p. 59. β©
James Postlethwayt, History of the Public Revenue, pp. 63, 64. β©
James Postlethwayt, History of the Public Revenue, p. 68. β©
James Postlethwayt, History of the Public Revenue, p. 71. β©
James Postlethwayt, History of the Public Revenue, p. 311. β©
James Postlethwayt, History of the Public Revenue, pp. 301β ββ 303, and see above, here. β©
James Postlethwayt, History of the Public Revenue, pp. 319, 320. β©
The odd Β£4,000 of the Β£206,501 13s. 5d. was for expenses of management. See above, here. β©
Ed. 1 reads βpayment,β perhaps correctly. β©
James Postlethwayt, History of the Public Revenue, p. 305. β©
This Act belongs to 1716, not 1717. β©
Above, here. β©
In 1717, under the provisions of 3 Geo. I, c. 7. Postlethwayt, History of the Public Revenue, pp. 120, 145. β©
Anderson, Commerce, AD 1717. β©
Anderson, Commerce, AD 1727. β©
This should be 1750. Anderson, Commerce, AD 1749. β©
5 and 6 W. and M., c. 7. β©
4 W. and M., c. 3. β©
Anderson, Commerce, AD 1719. β©
Anderson, Commerce, AD 1720. β©
Ed. 1 reads βjust as long as.β β©
Anderson, Commerce, mentions these reductions under their dates, and recalls them in reference to the British reduction in 1717. β©
Ed. 1 reads βlong and short.β β©
See James Postlethwaiteβs history of the public revenue. ββ Smith
Pp. 42, 143β ββ 145, 147, 224, 300. The reference covers the three paragraphs in the text above. ββ Cannan β©
Above, here. β©
Present State of the Nation (above, here), p. 28. β©
Anderson, Commerce, postscript ad init. β©
βBut the expenses of the war did not cease with its operations.β ββ Considerations (see a few lines below), p. 4 β©
Considerations p. 5. β©
The account is given in the Continuation of Andersonβs Commerce, AD 1764, vol. iv, p. 58, in ed. of 1801. The βΒΎd.β should be βΒΌd.β β©
Considerations on the Trade and Finances of This Kingdom and on the Measures of Administration with Respect to Those Great National Objects Since the Conclusion of the Peace, by Thomas Whately, 1766 (often ascribed to George Grenville), p. 22. β©
This is the amount obtained by adding the two items mentioned, and is the reading of ed. 1. Eds. 2β ββ 5 all read βΒ£139,516,807 2s. 4d.,β which is doubtless a misprint. The total is not given in Considerations. β©
Considerations, p. 4. β©
Ed. 1 reads βAmong.β β©
See this note. β©
Eds. 1β ββ 3 read βwas.β β©
It has proved more expensive than any of our former wars; and has involved us in an additional debt of more than one hundred millions. During a profound peace of eleven years, little more than ten millions of debt was paid; during a war of seven years, more than one hundred millions was contracted. ββ Smith
This note appears first in ed. 3. ββ Cannan β©
Garnierβs note, Recherches etc., tom. iv, p. 501, is βPinto: TraitΓ© de la Circulation et du CrΓ©dit,β a work published in 1771 (βAmsterdamβ), βpar lβauteur de
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