The Wealth of Nations by Adam Smith

The Wealth of Nations by Adam Smith

Loyal Books

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Adam Smith’s “The Wealth of Nations” gives an in-depth discussion of different economic principles like the productivity, division of labor and free markets. Although written and published more than 200 years ago, it’s still hailed as one of the most original works in the field of economics and is still used as a reference by many modern economists. “An Inquiry Into the Nature and Causes of the Wealth of Nations” is the complete title of this book and it was first published in 1776, the same year that the American colonies declared their independence from Britain. It’s interesting to note that Adam Smith once suggested to British authorities before this year that they should let the colonies be represented in the British parliament because of the contributions they give to the British Empire. But as we all know, they didn’t follow his suggestion and the Americans in defiance of British rule declared their independence. Experts at the time argued that if the British only followed Smith’s suggestion, the American Revolution wouldn’t have happened. Aside from this, Adam Smith had many other brilliant ideas about politics and economics, many of which were discussed in this book. He was the first economist to make an in-depth analysis about the division of labor, how it affects productivity, and what real price is. He also explained in this book the reasons why he opposed mercantilism, an economic theory which was very popular during that time. Then, he recommended and discussed here why free trade is better for nations. This was one of the first books about economics which advocates free trade. This concept is very important in modern economics and have now been embraced by most of the whole world. “The Wealth of Nations” is an indispensable work that every student of economics should read. It’s a timeless classic and many of the concepts discussed in it are still valid today.
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Adam Smith’s “The Wealth of Nations” gives an in-depth discussion of different economic principles like the productivity, division of labor and free markets. Although written and published more than 200 years ago, it’s still hailed as one of the most original works in the field of economics and is still used as a reference by many modern economists. “An Inquiry Into the Nature and Causes of the Wealth of Nations” is the complete title of this book and it was first published in 1776, the same year that the American colonies declared their independence from Britain. It’s interesting to note that Adam Smith once suggested to British authorities before this year that they should let the colonies be represented in the British parliament because of the contributions they give to the British Empire. But as we all know, they didn’t follow his suggestion and the Americans in defiance of British rule declared their independence. Experts at the time argued that if the British only followed Smith’s suggestion, the American Revolution wouldn’t have happened. Aside from this, Adam Smith had many other brilliant ideas about politics and economics, many of which were discussed in this book. He was the first economist to make an in-depth analysis about the division of labor, how it affects productivity, and what real price is. He also explained in this book the reasons why he opposed mercantilism, an economic theory which was very popular during that time. Then, he recommended and discussed here why free trade is better for nations. This was one of the first books about economics which advocates free trade. This concept is very important in modern economics and have now been embraced by most of the whole world. “The Wealth of Nations” is an indispensable work that every student of economics should read. It’s a timeless classic and many of the concepts discussed in it are still valid today.
...Read More
Episodes (25)
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00 – Introduction and Pla...

24 Jul 2020 | 06 mins 46 secs

00 – Introduction an...

24 Jul 2020 | 06 mins 46 secs

01 – Ch. 01 – The Divisio...

23 Jul 2020 | 19 mins 51 secs

01 – Ch. 01 – The Di...

23 Jul 2020 | 19 mins 51 secs

02 – Ch. 02 – Of the Prin...

22 Jul 2020 | 08 mins 59 secs

02 – Ch. 02 – Of the...

22 Jul 2020 | 08 mins 59 secs

03 – Ch. 03 – That The Di...

21 Jul 2020 | 10 mins 21 secs

03 – Ch. 03 – That T...

21 Jul 2020 | 10 mins 21 secs

04 – Ch 04 – Of the Origi...

20 Jul 2020 | 14 mins 54 secs

04 – Ch 04 – Of the ...

20 Jul 2020 | 14 mins 54 secs

05 – Ch. 05 – Of the Real...

19 Jul 2020 | 19 mins 07 secs

05 – Ch. 05 – Of the...

19 Jul 2020 | 19 mins 07 secs

06 – Ch 05 – Of The Real ...

18 Jul 2020 | 18 mins 51 secs

06 – Ch 05 – Of The ...

18 Jul 2020 | 18 mins 51 secs

07 – Ch. 06 – Of The Comp...

17 Jul 2020 | 15 mins 25 secs

07 – Ch. 06 – Of The...

17 Jul 2020 | 15 mins 25 secs

08 – Ch. 07 – Of The Natu...

16 Jul 2020 | 19 mins 06 secs

08 – Ch. 07 – Of The...

16 Jul 2020 | 19 mins 06 secs

09 – Ch. 08 – Of the Wage...

15 Jul 2020 | 28 mins 09 secs

09 – Ch. 08 – Of the...

15 Jul 2020 | 28 mins 09 secs

10 – Ch. 08 – Of the Wage...

14 Jul 2020 | 20 mins 30 secs

10 – Ch. 08 – Of the...

14 Jul 2020 | 20 mins 30 secs

11 – Ch. 09 – Of the Prof...

13 Jul 2020 | 23 mins 22 secs

11 – Ch. 09 – Of the...

13 Jul 2020 | 23 mins 22 secs

12 – Ch 10 – Of Wages and...

12 Jul 2020 | 22 mins 37 secs

12 – Ch 10 – Of Wage...

12 Jul 2020 | 22 mins 37 secs

13 – Ch 10 – Of Wages And...

11 Jul 2020 | 21 mins 58 secs

13 – Ch 10 – Of Wage...

11 Jul 2020 | 21 mins 58 secs

14 – Ch 10 – Of Wages And...

10 Jul 2020 | 17 mins

14 – Ch 10 – Of Wage...

10 Jul 2020 | 17 mins