The Wealth of Nations, Part 2

by Adam Smith

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1835. ... CHAP. II. Of Money considered as a particular Branch of the general Stock of the Society, or of the Expense of maintaining the National Capital. It has been shown in the First Book, that the price of the greater part of commodities resolves itself into three parts, of which one pays the wages of the labour, another the profits of the stock, and a third the rent of the land which had been employed in producing and bringing them to that there are, indeed, some commodities of which the price is made up of two of those parts only, the wages of labour, and the profits of stock; and a very few in which it consists altogether in one, the wages of labour; but that the price of every commodity necessarily resolves itself into some one, or other, or all of these three parts; every part of it which goes neither to rent nor to wages, being necessarily profit to somebody. Since this is the case, it has been observed, with regard to every particular commodity, taken separately; it must be so with regard to all the commodities which compose the whole annual produce of the land and labour of every country, taken complexly. The whole price or exchangeable value of that annual produce, must resolve itself into the same three parts, and be parcelled out among the different inhabitants of the country, either as the wages of their labour, the profits of their stock, or the rent of their land. But though the whole value of the annual produce of the land and labour of every country is thus divided among and constitutes a revenue to its different inhabitants; yet as in the rent of a private estate we distinguish between the gross rent and the neat rent, so may we likewise in the revenue of all the inhabitants of a great country. The gross rent of a private estate comprehends whatever is paid by the...

Genres: Economics, Philosophy, Nonfiction, History, Classics, Politics

131 pages, Audio Cassette

First published January 1, 1776

About the author

For other authors of this name, see Adam Smith.

Adam Smith FRSA FRS FRSE was a Scottish philosopher and economist who was a pioneer in thinking on political economy and a key figure during the Scottish Enlightenment. He wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations , is considered his magnum opus and the first modern work that treats economics as a comprehensive system and as an academic discipline.

Authorities recorded his baptism on 16 June 1723 at Kirkcaldy.

https://en.wikipedia.org/wiki/Adam_Smith

Reviews

[Guy · Rating 4 out of 5]

These books need to be read by people concerned about the economic paths society has taken. Actually reading Smith is to learn that his ideas are being abused by current economic ideologues who cite him as a model while ignoring all the issues Smith was strongly against and those that do not suit free-market ideology.

Smith would be appalled at current monetary policy, for example, and he believed that unions were the only way that people had a chance in the labour market to withstand the economic might of those who employ labour and wish to do so with as little pay as possible.

[Bisher Tarazi · Rating 4 out of 5]

This is a very valuable book for me, the most attractive thing for me was on how you can measure the value of any country, it's not only by gold or liquidity, it's by the imports and exports plus the national productivity and GDP.

In the book, the author consists that people were born with the mentality of trade and exchange for good, but when the humanity started to have countries and governments, things started to change to see the role of each part of them, gouverments role is only to make sure that all is going good with the regulation without a direct effect by its side, it can't be a huge part of the economy.

Another point the author talked about is how to measure the value of anything in our life ( usable or transferable ) plus how we should divide the work by putting the specialist in their own roles in the best time to get the best results.

[Merz · Rating 5 out of 5]

Read it to vet the deception in rhetoric:-
The Wealth of Nations almost sparked a revolution in its time 1776. Adam Smith is considered the father of modern economics. I read this book for researching economics which started merely as an art, and is now a cryptic science ,the very foundation of "business". Book is artfully written. it is a weaving of words to cast a spell .
This book was supposed to be an intellectual attempt to appeal people's sense of morality , communal harmony etc to get the to move from self sufficiency (of growing their own food) to mass production environments. One of several attempts made by various prominent public figures to re engineer society.
In these these works he seduces the reader by discussing the appropriate roles of government, namely defense, justice, the creation and maintenance of public works that contribute to commerce, education, the maintenance of the “dignity of the sovereign" These executive arms ought to be funded by "fair and clear" taxation.

[Matthew McCready · Rating 3 out of 5]

Brilliant, yet wordy by today's standards.

[Le Tai · Rating 4 out of 5]

Highly competitive in its economic ideas. Rated 4 stars since some of the discussions are not directly relevant to the modern world. But otherwise very insightful to it's own time.

[Dan · Rating 5 out of 5]

This was a great way to learn about the subject, without reading his complete writings. This audio version was presented in a commentary format on each principles, with the principles itself being presented with a Scottish brogue, which was quite enjoyable to listen to. It was also interesting to find out how broad and interrelated the various principles are. I highly recommend this audio book to anyone who is curious about our economic system.

[Samiur · Rating 3 out of 5]

Many great economists of today write with a flair of sensationalism for show-business. Hence, I personally regard Keynes, Hayek, Marx, and Smith as economists who've offered future generations with the most prized economic theories and solutions, much of which continue to form the underlying basis and platform for current economists' thought-leadership.

[Marcel Santos · Rating 5 out of 5]

My review of the whole book (volume I and II): https://www.goodreads.com/review/show...

And of just volume I: https://www.goodreads.com/review/show...

[Elizabeth · Rating 1 out of 5]

used audiobook