An Inquiry into the Nature and Causes of the Wealth of Nations
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Written By Famous Adam Smith, Father of the free market philosophies as we know and use them today.
-Learn about the invisible hand and how it changes and modifies markets, economies and nations.
About The Book:
An Inquiry into the Nature and Causes of the Wealth of Nations is the magnum opus of the Scottish economist Adam Smith. It is a clearly written account of economics at the dawn of the Industrial Revolution, as well as a rhetorical piece written for the generally educated individual of the 18th century - advocating a free market economy as more productive and more beneficial to society.
The work is credited as a watershed in history and economics due to its comprehensive, largely accurate characterization of economic mechanisms that survive in modern economics; and also for its effective use of rhetorical technique, including structuring the work to contrast real world examples of free and fettered markets.
->Smith lists three causes, arising from division, of improved productivity:
* the laborer's dexterity - due to specializing, year-round, in a specific task
* time not wasted passing from one task to the next - as in agriculture - as well as the more consistent and focused effort when working in just one area
* the machines and tools that have evolved in conjunction with increasingly specialized labor.