Book: Wealth of Nations
Wealth of Nations
This book is widely held as the bedrock for the modern economy. Yet it is more subtle than free marketers would have us believe. Adam Smith does argue for specialisation of labour and factory work however there is criticism of monopolies and an assertion that the true mark of a culture is in how it cares for the weak and marginalised. How different from the disciples who trample the poor claiming that increasing the riches of the millionaire will help all of society. If the rich get fabulously rich then the result may not be for the benefit of society as a whole. The enriching of bankers with bonuses that come from a bail out funded by cuts in education and health services are fine for the elite but bad for the majority.