Author: Adam Smith
Publisher: Library of Alexandria
Release Date: 1776
The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations. According, therefore, as this produce, or what is purchased with it, bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniencies for which it has occasion. But this proportion must in every nation be regulated by two different circumstances: first, by the skill, dexterity, and judgment with which its labour is generally applied; and, secondly, by the proportion between the number of those who are employed in useful labour, and that of those who are not so employed. Whatever be the soil, climate, or extent of territory of any particular nation, the abundance or scantiness of its annual supply must, in that particular situation, depend upon those two circumstances. The abundance or scantiness of this supply, too, seems to depend more upon the former of those two circumstances than upon the latter. Among the savage nations of hunters and fishers, every individual who is able to work is more or less employed in useful labour, and endeavours to provide, as well as he can, the necessaries and conveniencies of life, for himself, and such of his family or tribe as are either too old, or too young, or too infirm, to go a-hunting and fishing. Such nations, however, are so miserably poor, that, from mere want, they are frequently reduced, or at least think themselves reduced, to the necessity sometimes of directly destroying, and sometimes of abandoning their infants, their old people, and those afflicted with lingering diseases, to perish with hunger, or to be devoured by wild beasts. Among civilized and thriving nations, on the contrary, though a great number of people do not labour at all, many of whom consume the produce of ten times, frequently of a hundred times, more labour than the greater part of those who work; yet the produce of the whole labour of the society is so great, that all are often abundantly supplied; and a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniencies of life than it is possible for any savage to acquire.
Author: Richard Lynn
Publisher: Greenwood Publishing Group
Release Date: 2002
Genre: Business & Economics
Lynn and Vanhanen argue that a significant part of the gap between rich and poor countries is due to differences in national intelligence (national IQs). Based on an extensive survey of national IQ tests, the results of their study challenge the previous theories of economic development and provide a new basis to evaluate the prospects of economic development throughout the world.
Author: David Warsh
Publisher: W. W. Norton & Company
Release Date: 2007-05-17
Genre: Business & Economics
"What The Double Helix did for biology, David Warsh's Knowledge and the Wealth of Nations does for economics." —Boston Globe A stimulating and inviting tour of modern economics centered on the story of one of its most important breakthroughs. In 1980, the twenty-four-year-old graduate student Paul Romer tackled one of the oldest puzzles in economics. Eight years later he solved it. This book tells the story of what has come to be called the new growth theory: the paradox identified by Adam Smith more than two hundred years earlier, its disappearance and occasional resurfacing in the nineteenth century, the development of new technical tools in the twentieth century, and finally the student who could see further than his teachers. Fascinating in its own right, new growth theory helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy. Like James Gleick's Chaos or Brian Greene's The Elegant Universe, this revealing book takes us to the frontlines of scientific research; not since Robert Heilbroner's classic work The Worldly Philosophers have we had as attractive a glimpse of the essential science of economics.
Author: M. Alam
Release Date: 2016-02-05
Genre: Business & Economics
In Poverty from the Wealth of Nations , the author presents an analysis of the evolution of global disparities that goes beyond the earlier neo-Marxist critiques of global capitalism. He moves beyond their narrative by inserting two additional asymmetries into the global economy - those created by 'unequal races' and unequal states. The author analyzes not only the power of markets, but the powers that shaped these markets. More importantly, he marshals cross-country evidence to show that loss of sovereignty retarded industrialization, human capital formation and economic growth.
Author: Charles A. S. Hall
Publisher: Springer Science & Business Media
Release Date: 2011-10-27
Genre: Business & Economics
For the past 150 years, economics has been treated as a social science in which economies are modeled as a circular flow of income between producers and consumers. In this “perpetual motion” of interactions between firms that produce and households that consume, little or no accounting is given of the flow of energy and materials from the environment and back again. In the standard economic model, energy and matter are completely recycled in these transactions, and economic activity is seemingly exempt from the Second Law of Thermodynamics. As we enter the second half of the age of oil, and as energy supplies and the environmental impacts of energy production and consumption become major issues on the world stage, this exemption appears illusory at best. In Energy and the Wealth of Nations, concepts such as energy return on investment (EROI) provide powerful insights into the real balance sheets that drive our “petroleum economy.” Hall and Klitgaard explore the relation between energy and the wealth explosion of the 20th century, the failure of markets to recognize or efficiently allocate diminishing resources, the economic consequences of peak oil, the EROI for finding and exploiting new oil fields, and whether alternative energy technologies such as wind and solar power meet the minimum EROI requirements needed to run our society as we know it. This book is an essential read for all scientists and economists who have recognized the urgent need for a more scientific, unified approach to economics in an energy-constrained world, and serves as an ideal teaching text for the growing number of courses, such as the authors’ own, on the role of energy in society.
Author: Adam Smith
Publisher: Industrial Systems Research
Release Date: 2015-05-22
Genre: Business & Economics
An easier-to read, moderately abridged, current language version of the 1776 classic. Adam Smith's The Wealth of Nations is the great pioneering study of economic growth and performance. When first published in 1776, the factory-based Industrial Revolution was only just getting underway. However, there had been steadily rising production and incomes in Britain, the North American colonies, Holland and other countries since at least the late 17th century. Smith uses basic theory, observation and documentary sources to analyze the nature and causes of economic advancement in general. The book is lengthy and wide-ranging. It examines the contributions to production of labour, land and capital. It explains the economic importance of large buoyant markets and industrial specialization. It also shows that national wealth does not depend on economic factors alone. For example, the favourableness or otherwise of the political-legal environment for industry and commerce is everywhere a major influence on national prosperity. This is a moderately abridged current language version of the book – essentially translating the work into modern English to improve its readability and understandability. The translation is substantive but retains literalness and original word order and grammar as far as possible. CONTENTS: Editorial Foreword Author’s Introduction BOOK 1: INDUSTRIAL PRODUCTION, DISTRIBUTION AND INCOMES Chapter 1: Industrial Specialization Chapter 2: The Origins Of Industrial Specialization Chapter 3: The Extent Of The Market Limits Specialization Chapter 4: The Origins And Use Of Money Chapter 5: The Real Economic And Nominal Monetary Prices Of Goods Chapter 6: Supply Prices, Production Costs And Incomes Chapter 7: The Natural And Market Prices Of Products Chapter 8: The Wages Of Labour Chapter 9: The Profits Of Capital Chapter 10: Wages And Profits In Different Trades Chapter 11: The Rent Of Land BOOK 2: CAPITAL – ITS NATURE, ACCUMULATION AND USES Chapter 1: Different Types Of Capital Chapter 2: Monetary Capital Chapter 3: The Accumulation Of Capital Chapter 4: Capital Lent At Interest Chapter 5: The Different Uses Of Capital BOOK 3: NATIONAL ECONOMIC GROWTH AND PERFORMANCE DIFFERENCES Chapter 1: The Natural Process Of Economic Growth Chapter 2: The Discouragement Of Agriculture In Europe After The Fall Of The Roman Empire Chapter 3: Urban Growth And Manufacturing After The Fall Of The Roman Empire Chapter 4: The Contribution Of Urban Industry And Commerce To Rural Economies BOOK 4: POLITICAL-ECONOMIC THEORIES AND POLICIES Chapter 1: The Mercantilist Political Economic Model Chapter 2: Restrictions On Importing Goods Capable Of Domestic Production Chapter 3: Restrictions On Imports To Correct So-called Disadvantageous Trade Balances Chapter 4: Tax Refunds On Exports Chapter 5: Export Subsidies Chapter 6: Treaties Of Commerce Chapter 7: Colonies Chapter 8: The Mercantilist System – Conclusions Chapter 9: The Agricultural Political Economic Model – The Notion Of Land As The Great Source Of National Wealth BOOK 5: GOVERNMENT FINANCES – PUBLIC EXPENDITURE, TAXATION AND BORROWING Chapter 1: Government Expenditure Chapter 2: The Sources Of General Public Revenues Chapter 3: Public Debts
I have called this book The Real Wealth of Nations because it shows that our most important economic assets are not financial that the real wealth of nations consists of the contributions of people and our natural environment. To address the needs of our world today, we have to bring together knowledge from many areas. I therefore draw from many fields in addition to economics, including advances in both the social and natural sciences. I also propose practical steps for moving both economic and social systems in a positive direction. I have written this book to invite discussion and action. It is a book for everyone who wants a better life and a better world, and is looking for practical tools to realize these goals. I am confident that together we can build a new economic system that promotes creativity and generosity rather than greed and destructiveness. Indeed, I am convinced that this is the only viable option at this critical juncture in our cultural and planetary evolution.
Author: Lee Grieveson
Publisher: Univ of California Press
Release Date: 2018-01-02
Genre: Performing Arts
Cinema and the Wealth of Nations explores how media principally in the form of cinema was used during the interwar years by elite institutions to establish and sustain forms of liberal political economy beneficial to their interests. It examines the media produced and circulated by institutions such as states, corporations, and investment banks, as well as the emergence of a corporate media industry and system supported by state policy and integral to the establishment of a new consumer system. Lee Grieveson sketches a genealogy of the use of media to encode liberal political and economic power across the period that saw the United States eclipse Britain as the globally hegemonic power and the related inauguration of new forms of liberal economic globalization. But this is not a distant history. Cinema and the Wealth of Nations examines a foundational conjuncture in the establishment of media forms and a media system instrumental in, and structural to, the emergence and expansion of a world system that has been—and continues to be—brutally violent, unequal, and destructive.
Publisher: World Bank Publications
Release Date: 2006
Genre: Ahorro e inversión - Modelos econométricos
The book presents estimates of total wealth for nearly 120 countries, using economic theory to decompose the wealth of a nation into its component pieces: produced capital, natural resources and human resources. The wealth estimates provide a unique opportunity to look at economic management from a broader and comprehensive perspective. The book's basic tenet is that economic development can be conceived as a process of portfolio management, so that sustainability becomes an integral part of economic policy making. The rigorous analysis, presented in accessible format, tackles issues such as g.