Daily Archives: July 31, 2015

Find Your Inspiration: wealth of Nations

NOW in Universities as part of the economic course!!!… WOW… GOD is GREAT, I will praise my God for as long as my heart beats and for as long as I have breath I will sing his holy name…
This book is inspired by the Wealth Of Nations, it is a condensed , easy-to-understand with real world application of the valuable knowledge within. The publishing of “The Wealth of Nations” marked the birth of modern capitalism as well as economics. Oddly enough, Adam Smith, the champion of the free market, spent the last years of his life as the Commissioner of Customs, meaning he was responsible for enforcing all the tariffs. He took the work to heart, and burned many of his clothes when he discovered they had been smuggled into shops from abroad. Historical irony aside, his invisible hand continues to be a powerful force today. Smith overturned the miserly view of mercantilism and gave us a vision of plenty and freedom for all. The free market he envisioned, though not yet fully realized, may have done more to raise the global standard of living than any single idea in history. This is a timeless classic using fundamental economic concepts. It is important to observe the thought processes of an intelligent individual from over 200 years ago, thinking through the core basics of the foundations of economic theory. Modern humans tend to think of ourselves as smarter than previous generations. Actually, we are “standing on the shoulders of giants” to paraphrase a quote by Sir Isaac Newton, who actually borrowed it from several previous historical passages. Adam Smith saw clearly, and articulated eloquently the fundamental principals underlying what is wealth, how it correlates to actual physical processes and items, and how it is accrued in a fluid economic environment.

  

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