The financial world we live in is just as wild, if not more, than the mountains and woods we walk through. We are told that the fundamentals of our economy are strong, but we can feel that something is wrong. My unique financial background and survival passion make Financial Survivalist and excellent place to learn and share.

Tuesday, July 17, 2012

Wealth of Nations by Adam Smith


The Wealth of Nations by Adam Smith

Published in 1776, The Wealth of Nations is the Magnum Opus of Adam Smith, a Scottish economist. This book is the original argument for the free market.

I decided I wanted to start reading the works of great economists. I started with Adam Smith because he was one of the first. It amazed me how basic and ground breaking some of the principles like supply and demand were and still are. I think most politicians would benefit from reading these works.

Book 1: Of the Causes of Improvement in the Productive Powers of Labour
Book 2: Of the Nature, Accumulation, and Employment of Stock
Book 3: Of the Different Progress of Opulence in Different Nations
Book 4: Of Systems of Political Economy
Book 5: Of the Revenue of the Sovereign of Common Wealth

I started to get bored after Book 3. Though Book 4 would especially be valuable for politicians, most of it was obvious to me, and I don't think politicians do what they do because of ignorance. I wouldn't recommend this for the average Financial Survivor. Either you know this stuff or you don't. However, I did learn a lot in the first three books.

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