Wealth Of Nations

Knowledge and the Wealth of Nations: A Story of Economic Discovery
by David Warsh

“What The Double Helix did for biology, David Warsh’s Knowledge and the Wealth of Nations does for economics.” —Boston Globe

A stimulating and inviting tour of modern economics centered on the story of one of its most important breakthroughs. In 1980, the twenty-four-year-old graduate student Paul Romer tackled one of the oldest puzzles in economics. Eight years later he solved it. This book tells the story of what has come to be called the new growth theory: the paradox identified by Adam Smith more than two hundred years earlier, its disappearance and occasional resurfacing in the nineteenth century, the development of new technical tools in the twentieth century, and finally the student who could see further than his teachers.

Fascinating in its own right, new growth theory helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy. Like James Gleick’s Chaos or Brian Greene’s The Elegant Universe, this revealing book takes us to the frontlines of scientific research; not since Robert Heilbroner’s classic work The Worldly Philosophers have we had as attractive a glimpse of the essential science of economics.

Wealth of Nations
by Adam Smith

Adam Smith revolutionized economic theory with his 1776 work An Inquiry to the Nature and Causes of the Wealth of Nations. He proposed rules governing labor, supply, and demand; and describes division of labor, stockpiling of wealth, lending, and interest. Smith also discusses how economies lead to opulence. Wealth of Nations also offers a defense for free-market capitalism. This edition of Wealth of Nations is an abridged version edited by Harvard economics professor CHARLES JESSE BULLOCK (1869-1941) and published in 1901 by Harvard Classics, a series that offered the essential readings for anyone who wanted the functional equivalent of a liberal arts education. Any student of economics should be familiar with the concepts and laws that Smith developed, as much of economic theory is still based upon his work. Scottish economist and philosopher ADAM SMITH (1723-1790) helped set standards in the fields of political economics and moral philosophy, playing a key role in the early development of the scholarship of economics. His other writings include Essays on Philosophical Subjects.

12 Books That Changed The World
by Melvyn Bragg

When we think of great events in the history of the world, we tend to think of war, revolution, political upheaval or natural catastrophe. But throughout history there have been moments of vital importance that have taken place not on the battlefield, or in the palaces of power, or even in the violence of nature, but between the pages of a book.

In our digitised age of instant information it is easy to underestimate the power of the printed word. In his fascinating book, Melvyn Bragg presents a vivid reminder of the book as agent of social, political and personal revolution. 12 Books that Changed the World presents a rich variety of human endeavour and a great diversity of characters. There are also surprises. Here are famous books by Darwin, Newton and Shakespeare – but we also discover the stories behind some less well-known works, such as Marie Stopes’ Married Love, the original radical feminist Mary Wollstonecraft’s A Vindication of the Rights of Woman – and even the rules to an obscure ball game that became the most popular sport in the world . . .

The Wealth of a Nation
by C. Donald Johnson

The United States is entering a period of profound uncertainty in the world political economy – an uncertainty which is threatening the liberal economic order that its own statesmen created at the end of the Second World War. The storm surrounding this threat has been ignited by an issue thathas divided Americans since the nation’s founding: international trade. Is America better off under a free-trade regime, or has protectionism been more beneficial? The issue divided Alexander Hamilton from Thomas Jefferson, the slaveholding south from the industrializing north, and populists andindustrialists in the Gilded Age. In our own times, it has pitted anti-globalization activists and manufacturing workers against both multinational firms and the bulk of the economics profession.Former U.S. Trade Representative C. Donald Johnson’s The Wealth of a Nation is an authoritative history of the politics of trade in America from the Founding to the Trump era. He begins by charting the rise and fall of the U.S. protectionist system from the time of Alexander Hamilton to theSmoot-Hawley Tariff of 1930. Challenges to protectionist dominance were frequent and often serious, but the protectionist regime only faded in the wake of the Great Depression. After World War Two, America was the primary architect of the liberal free-trade economic order that ended up dominatingthe globe for over half a century. Recent years, however, have seen a swelling anti-free trade movement that casts the postwar liberal regime as anti-worker, pro-capital, and – in Donald Trump’s view – even anti-American. In the course of this riveting history, Johnson emphasizes the benefits thathave flowed from the postwar free trade regime, but focuses in particular on how it has helped American workers. Augmenting the system with new policies that address the negative effects of free trade is far more likely to help them than jettisoning it for a protectionist regime. As he stresses,free trade should not be the issue because it helps create wealth. Rather the central political issue remains as it always has been: how will business and labor share the wealth of the nation.

Adam Smith’s The Wealth of Nations
by Karen McCreadie

Published in 1776, Adam Smith’s The Wealth of Nations was the first comprehensive treatment of political economy. Today it is considered one of the most influential books ever written and its author is regarded as the father of classical economics. Smith did for economics what Darwin did for science. Here Karen McCreadie interprets this inspiring book for the modern day world of finance, business and economics, illustrating the timeless nature of Smith’s insights by bringing them to life with twenty-first century examples. Modern readers will discover: • How to improve productivity; • How to avoid divisive management; • Why you should pay your people well; • The importance of long-range thinking; • Why playing the lottery is no substitute for economic strategy. While we cannot know what Smith would have made of the excesses of capitalism we’ve already witnessed in the twenty-first century, the range of ideas inside demonstrates that The Wealth of Nations is every bit as relevant today as it was in 1776. This interpretation of Adam Smith’s The Wealth of Nations is not a substitute for the original. Its purpose is simply to illustrate the timeless nature of Smith’s insights by bringing them to life with contemporary examples. Given the continuing turbulence of the global economy this brilliant interpretation of a classic of political economy couldn’t be more timely.

The New Wealth of Nations
by Surjit S. Bhalla

The emerging world was poor and illiterate just forty years ago. Today, over 70 per cent of the world’s middle class resides in the erstwhile poor countries; world income inequality is down to levels last observed in 1870; and there has been a large reduction in absolute poverty. What accounts for such rapid development and catch-up? Distinguished economist Surjit S. Bhalla’s The New Wealth of Nations offers a short answer—the spread of education.
    The very large increase in college graduates in the non-Western world, the growing educational achievements of women, and the radical change in gender roles is critical to the understanding of current-day mega-trends. Indeed, this unprecedented development—which creates competition globally and lowers employment costs—is also why world inflation has been low, and declining, for nearly twenty years.
    Here is a book that breaks new ground. Besides identifying the fallacies in anti-globalization rhetoric—voiced by Brexit and Trump supporters—it points out a major lacuna in current attempts to measure wealth inequality. Through a series of compelling arguments, anecdotes, studies, calculations, tables, and charts, Bhalla emphatically reminds us that education is the new wealth, and is, in fact, currently of a greater magnitude than financial wealth, and much more equally distributed.
    Even while acknowledging the giant strides made by the developing world, The New Wealth of Nations investigates the downsides to the explosion of education and technology, and why countries, rich and emerging, will have to explore options like basic income and negative income tax, so that a new welfare order, appropriate for the changed—and changing—21st century can emerge.

* Surjit S. Bhalla has been recently appointed as a member of PM Modi’s Economic Advisory Council, and his new work is a ground-breaking achievement that argues for a new welfare order across nations which is better suited for the constantly transforming time we live in.
* Through a series of compelling arguments, anecdotes, studies, calculations, tables, and charts, noted economist Surjit S. Bhalla establishes in his latest book that education is the new wealth of nations.
* This book offers insights into the definitions of the poor, the middle class, and the rich, while relating each of these to advances in schooling attainment. It explores the economic reasons behind the political success of globalization in the Western world till the early 2000s, and now its fall from grace in these same countries as notably evidenced by Brexit and the rise of Donald Trump.

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