How can one go through life without reading the Wealth of Nations?
Adam Smith had the idea of modern economics before the United States was even sovereign. Imagine coming up with your own idea of an economic system long before the world was ready. And unlike Marx, may I mention, Smith’s ideals are not only flourishing and still seen today, but they are the foundation of the many, many economies and nations.
This was a classic book to read, I have to say, Adam Smith had revolutionary ideas, but a lot of people actually don’t know his ideas. There is this myth of Adam Smith, and he is said to be the ‘father of capitalism’. But, if he were alive to hear that, he would kill himself. For example, he didn’t like the division of labor, because it is a form of Cohesion ( most people are paid with money by doing jobs, and we cannot live without money. Smith didn’t want this to happen).
Here is an exert form the book: “What every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What every thing is really worth to the man who has acquired it, and who wants to dispose of it, or exchange it for something else, is the toil and trouble which it can save to himself, and which it can impose upon other people. That this is really the foundation of the exchangeable value of all things, excepting those which cannot be increased by human industry, is a doctrine of the utmost importance in political economy.”