In 'The Wealth of Nations', Adam Smith unveils the intricate dynamics of economics and its impact on society. He argues that free markets, driven by individual self-interest, can lead to unprecedented prosperity. Smith introduces the concept of the 'invisible hand,' suggesting that personal ambitions can benefit the collective good. This groundbreaking work lays the foundation for modern economics, challenging prevailing mercantilist ideas. Dive into Smith's insights to uncover how economic forces shape our world and influence our everyday lives.
By Adam Smith
Published: 2018
"The real tragedy of the poor is the poverty of their aspirations."
This seminal treatise on political economy and the foundation of the modern market economy was originally published in 1776. Its timeless views remain insightful and influential among politicians and economists.
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“The real tragedy of the poor is the poverty of their aspirations.”
The Wealth of Nations
By Adam Smith
Discover a world of knowledge through our extensive collection of book summaries.
Adam Smith was an influential Scottish economist, philosopher, and author known for his groundbreaking work in the field of political economy. He is best known for his seminal books, 'The Theory of Moral Sentiments' (1759) and 'An Inquiry into the Nature and Causes of the Wealth of Nations' (1776), which laid the foundations for classical economics and introduced concepts such as the division of labor and the invisible hand. Smith's writing style is characterized by its clarity, eloquence, and intellectual rigor, making complex economic theories accessible to a wider audience. His ideas have had a profound and lasting impact on economic thought and policy.
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In "A Farewell to Alms," economist Gregory Clark delves into the surprising dynamics of economic growth and social change, tracing humanity's journey from poverty to prosperity. Through a compelling mix of historical analysis and innovative research, he argues that culture, rather than mere resources, played a pivotal role in shaping economic outcomes. Clark challenges the conventional wisdom of the Industrial Revolution, revealing how deep-seated behaviors and social norms influenced wealth accumulation. With each chapter, readers are taken on a thought-provoking exploration of how our ancestral past continues to shape modern economies. Prepare to rethink everything you know about wealth, progress, and the human experience!
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