(Nearly) Forgotten Books: The Wealth Of Nations By Adam Smith \ stacker news ~bitcoin

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(Nearly) Forgotten Books: The Wealth Of Nations By Adam Smith

1197 sats \ 13 comments \ @TomK 30 Jul 2023 bitcoin

Wealth of Nations is a book by Adam Smith published in 1776, considered one of the most influential works in the history of economic thought and political philosophy. It is a treatise on political economy and a defense of laissez-faire economic ideas.

Here are some of the key points of The Wealth of Nations:

. The division of labor is the key to economic growth.

. Free trade benefits all countries involved.

. The government should play a limited role in the economy.

. The invisible hand of the market leads to the best allocation of resources.

The Wealth of Nations is a complex and challenging book, but it is also a rewarding one. It is a must-read for anyone who wants to understand he basic principles of economics and the free market system.

Here You can enter into Smith's thinking: https://youtu.be/U6S23ROiRzg

The invisible hand: https://youtu.be/fvuQFQvQSC8

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10 sats \ 3 replies \ @siggy47 30 Jul 2023

I have read it twice, but most recently 25 years ago. I agree it is complicated, but for a native English reader I found it clear and much easier to follow than I expected from a book written more than 200 years ago. Good post. Thanks

30 sats \ 2 replies \ @TomK OP 30 Jul 2023

Thank You. I downloaded a spanish version to profound my spanish that's horrible like my english. After my studies of Homer this will be part of my literature during my time at Crete. And a looooot of F. Nietzsche's unpublished stuff

20 sats \ 1 reply \ @siggy47 30 Jul 2023

Your English is very good. As everyone knows we Americans can't handle more than one language, with a few exceptions

0 sats \ 0 replies \ @TomK OP 30 Jul 2023

Aaaah nooooo. It's horrible. Now after some years in Spain the terrible German accent mixes itself with spanish pronounciation. Like a trilingual homunculus

0 sats \ 0 replies \ @Bell_curve 9 Feb

Third world countries should read this book. Same goes for Europe and USA

0 sats \ 1 reply \ @muteness11 31 Jul 2023

I remember studying it as part of the curriculum in uni. ... given it was imposed on me, I hated it .... although I remember it has value

0 sats \ 0 replies \ @TomK OP 31 Jul 2023

I read it by myself because german academia is dominated by Keynesian bs. To get education You are left alone

0 sats \ 3 replies \ @elvismercury 30 Jul 2023

In what universe can this book be claimed to be nearly-forgotten?

10 sats \ 2 replies \ @TomK OP 30 Jul 2023

Do You know someone that really read it? That You can talk about? Someone You can talk about econ theory of the 18th and 19th century?? Gratulations my friend

0 sats \ 1 reply \ @elvismercury 30 Jul 2023

Almost everyone who has an economics degree has read it, at least in abridgement, and many people with a passing interest in history or cultural studies. It would be hard to think of a more classic book in the social sciences.

10 sats \ 0 replies \ @TomK OP 30 Jul 2023

I studied it, too. Noone, at least in german universities, reads this. It's all keynesian bs they teach. But good for You!

0 sats \ 1 reply \ @shado_op 15 Nov 2023

deleted by author

10 sats \ 0 replies \ @TomK OP 15 Nov 2023

What's left is a complete superficial interpretation of this great work and a reductiln to: the man who ''invented'' the theory of the ''invisible hand''.