From the Founding Father of Capitalism: Book Insights on The Wealth of Nations by Adam Smith

* Ten years in the writing, published in 1776 and still considered a cornerstone of economic thought, The Wealth of Nations provides a recipe for national prosperity that has not been bettered since. Adam Smith, a Scottish professor of moral philosophy, assumes zero knowledge of his subject in the reader, and over 200 years on still delivers valuable lessons on basic economics.

* His vision of economic liberalism, based on small government and the freedom of citizens to act in their best interests, was revolutionary at the time. This was the dawn of a new industrial age, and the nature of government needed to change quickly to keep pace.

* The Wealth of Nations struck a chord as it pointed to the principle of ‘natural liberty’, which puts faith in the ingenuity of citizens to pursue their economic destinies with a minimum of government interference.

* Smith argued that the ‘invisible hand’ of the free market made sure that the honest labors of individuals, making good use of a country’s resources, would result in a prosperous and successful society.

Theme 1: Self Interest and Personal Freedom - 0:29

Theme 2: Wealth Through Labor - 7:43

Theme 3: National Wealth and Poverty - 13:50

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HEAR THE FULL INTERVIEWS MENTIONED IN TODAYS' EPISODE HERE:

YouTube. (2019). Adam Smith: The Invisible Hand. [online] Available at: https://www.youtube.com/watch?v=EBifN69gcKY.

YouTube. (2019). Two Sides to Adam Smith: Beyond 'Wealth of Nations'. [online] Available at: https://www.youtube.com/watch?v=1xvK93HcdJw&t=70s [Accessed 12 Apr. 2019].

Full Title: The Wealth of Nations

Year of Publication: 1776

Book Author: Adam Smith

To purchase the complete edition of this book click here: https://www.amazon.com/dp/B084L119MR/ref=cm_sw_em_r_mt_dp_C4CJP2DF0PJ7DKAM6TJW

Book Insight Writer: Tom Butler-Bowden  

Editor: Tom Butler-Bowden

Producer: Gabe Mara

Production Manager: Karin Richey

Curator: Tom Butler-Bowden

Narrator: Tom Evans