US EditionTen Enduring Lessons From Adam Smith
3 Articles
3 Articles
250 years from the book The wealth of nations by Adam Smith. The last column of a series of articles published in Clarín.
Ten Enduring Lessons from Adam Smith
Adam Smith (1723-1790) is widely considered to be the father of modern economics. There were precursors, such as the School of Salamanca and the French Physiocrats, but Adam Smith’s 1776 magnum opus, An Inquiry Into the Nature and Causes of the Wealth of Nations, was the first comprehensive treatise. In this 250th anniversary year, much ink will be spilled – and with good reason – celebrating the legacy of Adam Smith. My purpose here is as joyou…
250 years after the appearance of “The Wealth of Nations”, a message from Adam Smith becomes relevant. The wealth of a country depends on its productivity, it does not come from accumulating gold but from producing more. There comes into action its example of the production of pins, in which a worker only produces very few pins compared to the many more pins that would produce several workers specialized in different tasks such as stretching the…
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