By Adam Smith, Edwin Cannan, George J Stigler
"The Wealth of countries" is a huge e-book of economics, background, philosophy, and social feedback. it truly is even more than Adam Smith neckties at GOP conventions, simply because it is way than a reverential nod or in glossy textbooks. Econ scholars have to learn it to work out the place their self-discipline got here from and what it can be back. thankfully, Dickey's abridgment reproduces sufficient of the textual content (about 25 percentage) to exhibit the intensity of Smith's erudition and the fantastic range of his pursuits. regrettably, the editorial gear is vulnerable. The reviews are few in quantity and exceptionally short, and the fast Preface fails to place the ebook into ancient and highbrow context. Dickey does provide 4 appendices yet those take care of particularly really good subject matters instead of the massive photo.
Bottom line: this variation is low-cost yet will not be the easiest one for college kids.
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Additional info for An Inquiry into the Nature and Causes of the Wealth of Nations
But after the division of labour has once thoroughly taken place, it is but a very small part of these with which a man’s own labour can supply him. The far greater part of them he must derive from the labour of other people, and he must be rich or poor according to the quantity of that labour which he can command, or which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command.
10 1/2d. in silver. In England no duty or seignorage is paid upon the coinage, and he who carries a pound weight or an ounce weight of standard gold bullion to the mint, gets back a pound weight or an ounce weight of gold in coin, without any deduction.
The difference between the most dissimilar characters, between a philosopher and a common street porter, for example, seems to arise not so much from nature as from habit, custom, and education. When they came into the world, and for the first six or eight years of their existence, they were perhaps very much alike, and neither their parents nor playfellows could perceive any remarkable difference. About that age, or soon after, they come to be employed in very different occupations. The difference of talents comes then to be taken notice of, and widens by degrees, till at last the vanity of the philosopher is willing to acknowledge scarce any resemblance.
An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith, Edwin Cannan, George J Stigler