THE WEALTH OF NATIONS | PART 2 (BY ADAM SMITH)

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Adam Smith was a Scottish economist, philosopher and author, and a very successful one at that. His masterpiece “The Wealth of Nations” was released in 1776, and was at that time considered very controversial, but it has laid out the groundwork for pretty much all economics since. Smith is often referred to as “The Father of Economics” or “The Father of Capitalism”, for good reasons.

The Wealth of Nations | Part 1: https://www.youtube.com/watch?v=Dl2XMz7LgQU

Top 5 (additional!) takeaways from “The Wealth of Nations” by Adam Smith:

00:20 Accumulation and employment of capital
03:23 Globalization – the shortcut to increased wealth
07:29 Why free trade is superior, and why government shouldn’t interfere
10:23 What’s the purpose of a government?
14:10 How should a government be financed?

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