It has been 234 years since a Scottish economist and rebel of his times, Adam Smith first published his master piece, the now iconic “Wealth of Nations”, the simple language and the mastery of a complicated subject has never been so relevant.
The backdrop for the treatise was the dawn of the industrial revolution. The book is often considered by the experts to have laid the basic groundwork for the Modern Economic Theory.
Revisiting the book, one cannot quote one of the main themes of the book, the now famous, ‘Invisible Hand’, a concept that naturally guides a society through self interest.
This book, when published in 1776 not only influenced economists and authors, but governments and organisations. Even stalwarts like Karl Marx and Sir Isaac Newton quoted and got inspired from the ‘Wealth of Nations’.
The book consists of the following parts:
• Book I: Of the Causes of Improvement...
• Book II: Of the Nature, Accumulation, and Employment of Stock
• Book III: Of the different Progress of Opulence in different Nations
• Book IV: Of Systems of political Economy
• Book V: Of the Revenue of the Sovereign or Commonwealth
We’d strongly suggest a revisit to the book; it sure would surprise you as ever.
Team Karvy Private Wealth
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