The Wealth of Nations

“If you think free markets mean there is no government, you read it wrong; go back and reread Adam Smith.”

“Smith Wealth of Nations most of all and I don't think you have to read all of it”

“Variations on the noun choice or verb choose occur 48 times in the wealth of nations usually referring to individual choice. Smith mentions consent 24 times.”

“And of course, as you say Smith understands we can fool ourselves we can be imperfect but it is some restraint on our self-interest which is the focus of the wealth of nations and the sense in which there's this empathetic impartial spectator idea in the wealth of nations.”

“and of course Adam Smith saw a lot of things in The Wealth of Nations but one of them that he spends time on is why that is not the right way to think about well-being”

“very much in line with The Wealth of Nations by Adam Smith Adam Smith made the point that gold and silver there are things and they they are good for guilding churches”

“Then he publishes his uh grand opus, his most famous book, uh The Wealth of Nations in 1776. In that book, among economists, Rebecca, maybe not so much among watchmakers, but he gives this uh example that I I don't think he'd ever seen it himself.”

“to me this was this chapter was had one of the most stunning views of Smith's worldview and it really helped me think about how this book relates to other work of Smith like The Wealth of Nations and as to our roles economist today”

“At the end of March, the composer David Lang debuted a modern piece of music set to a 250-year-old book, Adam Smith's The Wealth of Nations.”

“I caught up with David Lang about a week after the last of the four performances of The Wealth of Nations, and I asked what it felt like to work on a big new piece like this for years...”

“One day, our producer Zach Lipinsky heard about a future Philharmonic oratorio called The Wealth of Nations. You may recognize that title. It is a book published in 1776 by the Scotsman Adam Smith, who is widely seen as the father of modern economics”

“And the piece we're talking about is Lang's new oratorio, The Wealth of Nations, which repurposes text from the Adam Smith book of the same name.”

“when Adam Smith was writing The Wealth of Nations in the mid-18th century it wasn't supermarkets he was worried about”

“when Adam Smith was writing The Wealth of Nations the East India Company controlled”

“while he was able to make meaningful revisions to theory of moral sentiments and Wealth of Nations during his time at panmure”

“he worried about the ways that wealth and an emphasis on material Goods can corrupt people's moral sentiments the theory of moral sentiments The Wealth of Nations those were the books”

“Smith had never been accused of being a fast writer and it turned out to be 17 years between the publication of the theory of moral sentiments and the release of his second and final book The Wealth of Nations”

“in book five of The Wealth of Nations Adam Smith would appear to be in favor of this”

“I'd forgotten that Dubner had done this three-part series on Adam Smith, and to win the Adam Smith Award, Dubner crafted an absolutely brilliant speech in which he talked about Adam Smith's life and details; it was really masterful.”

“it really crashes head long into this view in economics which I've been so indoctrinated into with so many years in the field an Adam Smith's book The Wealth of Nations he laid out what's called The Invisible Hand Theory”

“Adam Smith's book, The Wealth of Nations, laid out what's called the Invisible Hand Theory, which is the idea that in a market setting, if every individual pursues their own self-interest, the market equilibrium is one that has many amazing characteristics.”

“and Adam Smith's book The Wealth of Nations he laid out what's called The Invisible Hand Theory”

“It really crashes headlong into this view in economics which I've been so indoctrinated into with so many years in the field and Adam Smith's book, The Wealth of Nations.”

“You're referring to the Adam Smith of The Wealth of Nations, but there's also the Adam Smith of The Theory of Moral Sentiments.”

“I really love and to be honest there are parts of The Wealth of Nations that are mesmerizingly mundane”

“so it's natural that you have the founders Madison Hamilton Jefferson reading The Wealth of Nations to understand a way of thinking of national wealth”

“The Wealth of Nations Adam Smith and the theory of moral sentiments Adam Smith”

“this goes all the way back to Adam Smith and the wealth of nations and the invisible hand where his argument about the invisible hand is not that this kind of somehow automatically works by magic.”

“Adam Smith, the you know father of capitalism had this idea of the invisible hand which if you go back and look at what he was actually talking about what he was describing it like literally in the paragraph where he writes about the invisible hand he has all these requirements...”

“So this is this really this book has to be accompanied by its more famous sister book which is the wealth of nations which that's the book that most people know Adam Smith for.”

“this is the 250th anniversary, not just of the Declaration of Independence, but also of Adam Smith's Wealth of Nations, where he basically for the first time in human history described the free market system.”

“Maybe in your MBA, you're reading Adam Smith's Wealth of Nations, obviously important, bedrock of modern capitalism.”

“Adam Smith wrote this book called the theory of moral sentiments before he wrote ”

“what you get there is some of the some of the story behind why there are these status tensions among human beings and why there's this zero-sum game aspect to the human experience which has to sit alongside of the kind of very positive picture in like wealth of nations where it's like oh we just get together and work”

“um he is paraphrasing a quote from Adam Smith's Wealth of Nations which I'll just share because why not what's called book talk quote people of the same trade seldom meet together even for Mart and diversion”

“self-interest was something that he wrote a bit about in his later book The Wealth of Nations”

“Self-interest was something that he wrote a bit about in his later book The Wealth of Nations, but in the Theory of Moral Sentiments he writes about our self-concern in a way that I think would help modern people look at it in a different light.”

“you know we have adam smith's wealth of nations this idea that capitalism would solve all ills and the invisible hand and the free market and once people you lived in free and capitalist societies you know all they would be so happy”

“remember Adam Smith's wealth of Nation about free market capitalism published in like 1775 1780 and so we have free market capitalism Market democracies introduced into the world about that point in time”

“Adam Smith, before he wrote The Wealth of Nations, he wrote this philosophy book; he was taught by a professor who was a big fan of Stoics and it’s called The Theory of Moral Sentiments.”

“it was in this 17th century building that Smith completed the final editions of the two Masterworks the theory of moral sentiments and of course The Wealth of Nations”

“which is more apparent in The Wealth of Nations it's in the theory of moral sentiments but it's understood a richer context in the theory of moral sentiments”

“he obviously had a background in an interest in customs given the work that he did on the empirical elements of The Wealth of Nations”

“and with those two presumptions that came forward especially more completely than in the wealth of nations and into the last part of his life thereafter”

“So, of course, I went in and I said, "I really am happy that you like this project, and you know, I have another project to make a piece out of The Wealth of Nations." Had you already read the book? I wasn't going to read the book unless I had a gig to read the book.”

“you know I had Adam Smith in the wealth of nations which is rightly considered to be the start starting point of modern scientific economics he famously talked about the invisible hand”

“Every time I pull the book down from my shelf, The Wealth of Nations, I learn something again.”

“The Wealth of Nations his big book published in 1776 what a great year that was it really is a polemic it's a polemic against economic centralism and restrictions on trade”

“because I do feel like everything is still just like Adam Smith Wealth of Nations and it's like there's been Marxism there's been other things but nothing has topped that guy's like idea for the global economy”

“I asked what she thought when she was first approached about singing The Wealth of Nations. Honestly, I was surprised because I read The Wealth of Nations when I was at Columbia cuz that's one of the core texts that all the students have to read. And, you know, back then I remember it not being a very scintillating read.”

“and actually Adam Smith talked about this in his his wealth and Wealth of Nations”

“The Wealth of Nations it doesn't say ethereal moral sentiments but the theory of moral sentiments tells you so much more about Smith than what The Wealth of Nations does”

“capitalism has lost the first volume of Adam Smith the second volume is Wealth of Nations”

“in The Wealth of Nations he talked about um the Invisible Hand which governs the market but then he also talked about theory of moral sentiments which was the the Realms where the market didn't go”

“I think the partial answer to what you're asking might be to think along the lines of Adam Smith, who saw two different spheres, and in 'The Wealth of Nations,' he talked about the invisible hand which governs the market, but then he also talked about the theory of moral sentiments, which was the realms where the market didn't go.”

“and then later an Rand we understood that capitalism was the way reality needs to work because all the incentives run in the right direction”

“Adam Smith noted that in wealth of the Nations and noted that unfettered capitalism could lead to some really bad things”

“Classical economics does not really use math, is very close to political economy. It's concerned with, as Smith puts it, "The wealth of nations."”

“and then on top of those two Traditions you have the scientific Enlightenment and the philosophical Enlightenment which you know really started in 17th 18th centuries they kind of gave us this understanding of the modern world with with Adam Smith and The Wealth of Nations and how trade works with Scientific Revolution”

“and as most people you would find actually don't know they know about The Wealth of Nations and they know that Margaret Thatcher the enemy always had a copy of Wealth of Nations the legend goes in her handbag”

“The Wealth of Nations is the most famous book but for me as was said earlier it's the theory of moral sentiments which is the guide”

“and for me the wealth of nations is so beautiful because it's set off”

“What many people don't realize is is that in 1776, same year as the Declaration of Independence, you had the publication of Wealth of Nations by Adam Smith.”

“I'm speaking with author podcaster and film producer Robert price we discussed topics from his latest book a question of power electricity and The Wealth of Nations their current Audacity Of Those pushing the zero emissions”

“So, there have been a lot of people who have followed stoic thought like Adam Smith apparently was very much informed by stoicism when he wrote the wealth of nations because one of the big big aspects of it was individual liberty.”

“I mean, which to your point, I think is that if you look at his theory of capitalism in The Wealth of Nations, if you look at his theory of moral sentiments, which I think he actually wrote beforehand, you can see that it's embedded in a particular social context, which is frankly very biblically informed.”

“It was the monks of Salaka in the 1200s who first came up with this concept and even Adam Smith himself, I think, would be very comfortable in this exchange that you and I are having about the lack of primacy of the free market as it relates to human goods.”

“now i'm only here repeating what adam smith said in um uh the wealth of nations about the you know the the the butcher and the baker are not uh giving you bread and beer because they want to be kind to you they're doing it to make a living but they end up being kind to you and you”

“Increasing returns, first described by Adam Smith and Wealth of Nations in 1776. You remember the pin factory idea?”

“The pin factory he writes about as one example. You can read about that in the Wealth of Nations and there other places.”

“And it's the title of just the third chapter of book one of Wealth of Nations. So if we don't appreciate it, it's because we're not paying attention.”

“rewrite adam smith's the wealth of nations in terms of the formation of stars the formation life death star by the way that's a brilliant concept and all joking aside”

“now this is something that Adam Smith wrote about in 1776 in The Wealth of Nations that any Gathering of businessmen is a conspiracy against the consumer and so all of these interest groups like a sloppy uh influence written bureaucratic and political structure”

“and the Scottish Enlightenment which after all produced some of the greatest ideas human beings have ever had think of Adam Smith's contribution The Wealth of Nations the theory of moral sentiments that's the kind of intellectual Legacy that I think of myself as being responsible for”

“And you know, even even Adam Smith in the in in the Wealth of Nations outlined this asymmetry of power.”

“You're referring to the Adam Smith of The Wealth of Nations but there's also the Adam Smith of the theory of moral sentiments”

“i don't even know the name of on capitol hill nations the wealth of nations like i don't know if i would have read that by the time we go to print”

“Smith's most influential work, The Wealth of Nations, is published in 1776. Uh his work is very influential to the people generally generally referred to as the founding fathers of the United States.”

“um that historically there was the classical economist people like adam smith you know when he wrote the wealth of nations”

“I really feel strongly about this that this book is to the 21st century what Adam Smith's The Wealth of Nations was to the 18th and 19th”

“capitalism as Adam Smith imagined it when he wrote about it in the wealth of nations wasn't what we have now. He was customer focused. He was employee focused.”

“certainly rard I find totally like reading a cardboard cutout version of uh of the wealth of of The Wealth of Nations it's uh I find his worth trivial”

“and that is wealth of nations by adam smith which i know you're a fan of”

“and i encountered a basically what i encountered a set of writings from people that said they were the inheritors adam smith but adam smith for the first time right which is the wealth of nations and kind of this notion of emergent emergent societies”

“and i encountered a basically what i encountered a set of writings from people that said they were the inheritors adam smith but adam smith for the first time right which is the wealth of nations and kind of this notion of emergent emergent uh societies and realized oh there's this whole world out here of people”

“that's what adam smith had already argued in uh his book the uh wealth of the nations was published 1776 the same year as american independence”

“1776 was the year of the birth of the nation that was the year of The Wealth of Nations that was Adam Smith's famous text it was also the year of the Declaration of Independence and I think that both of these are America's parents”

“that was the year of The Wealth of Nations that was Adam Smith's famous text”

“One of the other things that happened to kind of—but this thing was full steam ahead when Adam Smith wrote a book in 1776 called 'An Inquiry into the Nature and Causes of the Wealth of Nations.'”

“They know about The Wealth of Nations and that Margaret Thatcher, the enemy, always had a copy of Wealth of Nations, the legend goes, in her handbag.”

“When Adam Smith was writing The Wealth of Nations in the mid-18th century, it wasn't supermarkets he was worried about.”

“Here is a passage from The Wealth of Nations read by John Ewell: While they were traders only, they managed their trade successfully and were able to pay from their profits a moderate dividend to the proprietors of the stock.”

“Writing in The Wealth of Nations, Smith blamed the severity of the famine on the East India Company's improper regulations and injudicious restraints.”

“Oh yes, that's another phrase I really love, and to be honest, there are parts of The Wealth of Nations that are mesmerizingly mundane.”

“So I think the association of Smith with economics has privileged that particular element in his analysis, which is more apparent in The Wealth of Nations.”

“While he was able to make meaningful revisions to The Theory of Moral Sentiments and The Wealth of Nations during his time at Panmure, he was also, unfortunately, really busy with his day job.”

“I know The Wealth of Nations is the most famous book, but for me, as mentioned earlier, it's the Theory of Moral Sentiments that serves as the true guide.”

“If you know anything at all about Adam Smith, it probably comes from his second and most famous book, The Wealth of Nations.”

“In that same year, a Scottish economist named Adam Smith launched another revolution with a book entitled The Wealth of Nations, which exposed for all time the folly of protectionism.”

“And then, of course, with The Wealth of Nations, how do you understand the forces of national wealth?”

“Obviously, some biographers suggest that he was certainly looking at things in the early part of The Wealth of Nations; he talks about pin manufacture, and obviously in Kirkcaldy, that was in the next village to here.”

“If you have read even a little bit of The Wealth of Nations, you may recall the passage that George Proudfoot is talking about here—the pin factory.”

“Here is how Smith put it in The Wealth of Nations: 'If they had all worked separately and independently and without any of them having been educated to this peculiar business, they certainly could not each of them have made 20; perhaps not one pin in a day.'”

“What is Smith trying to explain in The Wealth of Nations?”

“Adam Smith changed that; here is a famous passage from the first of five books that make up The Wealth of Nations: 'It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner but from their regard to their own interest.'”

“It also says on the site stood the home of his mother, in which he lived from 1767 to 1776, and completed The Wealth of Nations.”

“But you see the references to The Wealth of Nations.”

“It doesn't say The Theory of Moral Sentiments, but The Theory of Moral Sentiments tells you so much more about Smith than what The Wealth of Nations does.”

“You see the humanity and understanding of people from The Theory of Moral Sentiments even more so than from The Wealth of Nations.”

“Years later in The Wealth of Nations, he would blame the incentives, explaining that professors were paid well whether they taught well or not at the University of Oxford.”

“It has been said that Thatcher carried a copy of The Wealth of Nations in her handbag.”

“Here was the big question: would Britain be, as Adam Smith wrote in The Wealth of Nations, a nation of shopkeepers or a nation of government bureaucrats?”

“There were just the two books: The Theory of Moral Sentiments and The Wealth of Nations, with multiple editions of each since he was an inveterate reviser.”

“Smith later very famously said that this letter brought on me ten times more abuse than the very violent attack I made on the entire commercial system of Great Britain, meaning of course The Wealth of Nations.”

“The Wealth of Nations is an attack on the entire commercial system of Great Britain.”

“In Book Five of The Wealth of Nations, Adam Smith would appear to support this: "For a very small expense, the public can facilitate, can encourage, and can even impose upon almost the whole body of the people the necessity of acquiring those essential parts of education.”

“Yes, because The Wealth of Nations is an enormous, sprawling book \u2014elephantine\u2014and it's filled with facts, figures, and arguments, some of them not entirely consistent.”

“Do you really think he would publish The Wealth of Nations after dedicating so many years to it with an incomplete understanding of the government's role in providing services like education and transportation?”

“As Dennis Rasmussen explained, reconciling The Wealth of Nations with The Theory of Moral Sentiments isn’t particularly difficult.”

“I think the real Adam Smith Problem is that most economists and politicians who refer to The Wealth of Nations for guidance have simply not read The Theory of Moral Sentiments.”

“What does Matheson mean when he says that specialization makes us rich? This idea goes all the way back to Adam Smith. Adam Smith stated that specialization is the royal road to prosperity, because if people specialize, they can truly excel at something.”

“you know, um, as I believe Adam Smith points out in Wealth of Nations, you know, you have all these people on this assembly line making pins, but Alexis de Tokavville asks, "What can be expected of a man who has spent 20 years of his life putting heads on pins?"”

“It drew in a classical economic ideas espoused by Adam Smith you know at one of the wealth of nations”

“Adam Smith in one book The Wealth of Nations”

“and she she said well you know what they don't tell you is that when Adam Smith was writing The Wealth of Nations the [ __ ] handbook for all capitalists and free-market guys like yourself”