My other summer reading project is The Wealth of Nations. A while back The Economist made a list of essential economists that everyone should know about, and its mini-bio of Adam Smith contained an intriguing mention of Smith approving of a certain level of regulation. As someone who's only ever seen him invoked in the cause of completely unregulated capitalism, my interest was piqued.
What's had me blocked on this read is that I thought I might summarize what I find Smith actually saying, so after finishing book I (of V) I didn't want to read any further until I could find the time to post about it. So here we are.
Before getting started, I have a different book recommendation for everyone. 1493: Uncovering the New World Columbus Created has turned out to be excellent preparation for this book, since Smith's obsession with silver means that he is never far from the shadow of PotosÃ. Plus 1493 is engagingly written, up to date with the latest research, and not an absolute doorstop of a book, none of which can be said about The Wealth of Nations.
( It gets long... )
Yup, Adam Smith, patron saint of capitalism, says that businesspeople are absolutely the last people you should be listening to when considering how the economy should work.
That's a good cliffhanger to end on for now. Stay tuned for Book II, which thankfully is much shorter.
What's had me blocked on this read is that I thought I might summarize what I find Smith actually saying, so after finishing book I (of V) I didn't want to read any further until I could find the time to post about it. So here we are.
Before getting started, I have a different book recommendation for everyone. 1493: Uncovering the New World Columbus Created has turned out to be excellent preparation for this book, since Smith's obsession with silver means that he is never far from the shadow of PotosÃ. Plus 1493 is engagingly written, up to date with the latest research, and not an absolute doorstop of a book, none of which can be said about The Wealth of Nations.
Yup, Adam Smith, patron saint of capitalism, says that businesspeople are absolutely the last people you should be listening to when considering how the economy should work.
That's a good cliffhanger to end on for now. Stay tuned for Book II, which thankfully is much shorter.