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The Wealth of Nations. An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith (1723–1790).
The Wealth of Nations was published in 1776 and was an instant success, selling out its first edition in only six months. [44] In 1778, Smith was appointed to a post as commissioner of customs in Scotland and went to live with his mother (who died in 1784) [45] in Panmure House in Edinburgh's Canongate. [46]
Adam Smith is considered the first theorist of what we commonly refer to as capitalism. His 1776 work, An Inquiry into the Nature and Causes of the Wealth of Nations, theorized that within a given stable system of commerce and evaluation, individuals would respond to the incentive of earning more by specializing their production.
The most significant component by far among most developed nations is commonly reported as household net wealth or worth, and reflects infrastructure investment. National wealth can fluctuate, as evidenced in the United States after the Great Recession and subsequent economic recovery. During periods when equity markets experience strong growth ...
The Theory of Moral Sentiments is a 1759 book by Adam Smith. [1] [2] [3] It provided the ethical, philosophical, economic, and methodological underpinnings to Smith's later works, including The Wealth of Nations (1776), Essays on Philosophical Subjects (1795), and Lectures on Justice, Police, Revenue, and Arms (1763) (first published in 1896).
978-0275975104. IQ and the Wealth of Nations is a 2002 book by psychologist Richard Lynn and political scientist Tatu Vanhanen. [1] The authors argue that differences in national income (in the form of per capita gross domestic product) are correlated with differences in the average national intelligence quotient (IQ).
The Wealth and Poverty of Nations: Why Some are So Rich and Some So Poor is a 1998 book by historian and economist David Landes (1924–2013). He attempted to explain why some countries and regions experienced near miraculous periods of explosive growth while the rest of the world stagnated. The book compared the long-term economic histories of ...
Paradox of value. Water is a commodity that is essential to life. In the paradox of value, it is a contradiction that it is cheaper than diamonds, despite diamonds not having such an importance to life. The paradox of value (also known as the diamond–water paradox) is the contradiction that, although water is on the whole more useful, in ...
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