Comments on: Nobody Actually Reads Adam Smith and A Wealth of Nations http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/ Critical Thinking Applied to Economics and Finance Mon, 21 Jun 2010 08:22:14 +0000 hourly 1 http://wordpress.com/ By: Shaun Snapp http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-695 Shaun Snapp Thu, 15 Apr 2010 10:02:48 +0000 http://counterecon.wordpress.com/?p=616#comment-695 Wealth of Nations was written in 1776. So of course the English is completely different. That is what the majority of people don't get who continually quote him, but have never read him. I know John McCain made the comment about the Wealth of Nations being the one book he would take to a desert island. I am waiting for Sarah Palin to bring it up as her favorite book as well. Wealth of Nations was written in 1776. So of course the English is completely different. That is what the majority of people don’t get who continually quote him, but have never read him. I know John McCain made the comment about the Wealth of Nations being the one book he would take to a desert island. I am waiting for Sarah Palin to bring it up as her favorite book as well.

]]> By: Mike S http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-694 Mike S Wed, 14 Apr 2010 20:34:06 +0000 http://counterecon.wordpress.com/?p=616#comment-694 Hi Shaun, Well I am nearing the end of Book II now. I have had to slow down taking it about 20 p. a day. I am glad to know I am not the only person really struggling with this. I also began this book with very little knowledge of economics. Particularly interesting to me was the conclusions to the first Book. Smith makes note of the people who live by rent, the people who live by wages, and those who live by profits. He writes how profit rates are lowest in a country that is doing well and where the wage earners and renters are benefitting. he also notes how the one's who earn profit are most aware of their situation and how rates are best in poor countries. It is quite telling of the previous 200 and so years of capitalist history. Smith makes note that those who live by profit seek to widen the market and narrow the competition. Currently, however, what Smith couldn't have predicted is the mobility of capital allows it to seek cheap labor markets. Anyway, I get about 20 pages a day done before my head starts spinning and the words start to blur so it is off to bed now. Hi Shaun,

Well I am nearing the end of Book II now. I have had to slow down taking it about 20 p. a day. I am glad to know I am not the only person really struggling with this. I also began this book with very little knowledge of economics.

Particularly interesting to me was the conclusions to the first Book. Smith makes note of the people who live by rent, the people who live by wages, and those who live by profits. He writes how profit rates are lowest in a country that is doing well and where the wage earners and renters are benefitting. he also notes how the one’s who earn profit are most aware of their situation and how rates are best in poor countries.

It is quite telling of the previous 200 and so years of capitalist history. Smith makes note that those who live by profit seek to widen the market and narrow the competition.

Currently, however, what Smith couldn’t have predicted is the mobility of capital allows it to seek cheap labor markets.

Anyway, I get about 20 pages a day done before my head starts spinning and the words start to blur so it is off to bed now.

]]> By: Shaun Snapp http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-662 Shaun Snapp Wed, 31 Mar 2010 23:14:17 +0000 http://counterecon.wordpress.com/?p=616#comment-662 Mike, If you were able to actually get through the book, kudos to you. The book is so hard to read, that most people prefer to fake it. Adam Smith might be the most misquoted human to have lived, right after Jesus Christ. I hope more people respond, but I would love to have the areas you find interesting listed as comments. I find the most interesting quotes to be those that directly contradict ideas popularly attributed to him. Almost no one knows he supported labor unions. Mike,

If you were able to actually get through the book, kudos to you. The book is so hard to read, that most people prefer to fake it. Adam Smith might be the most misquoted human to have lived, right after Jesus Christ. I hope more people respond, but I would love to have the areas you find interesting listed as comments. I find the most interesting quotes to be those that directly contradict ideas popularly attributed to him. Almost no one knows he supported labor unions.

]]> By: Mike S http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-661 Mike S Wed, 31 Mar 2010 22:30:36 +0000 http://counterecon.wordpress.com/?p=616#comment-661 Hello, I am embarking on a crash course to truly understand economic theory and have begun with 'Wealth of Nations' (only recently finding out as this website implies that people do not actually read this book)... none the less despite the challenge, I enjoy reading it... I wanted to know, however, does anyone have advice on parts that are more important than others. I have so far read up to about page 160 which is just before the long digressiosn on silver in book 1. My main goal is to get a good base understanding and then move on to other economists such as Ricardo, Marx, ect... Is it neccesary to read all 900 pages or are soem parts more pertinent than others... Thank you Hello, I am embarking on a crash course to truly understand economic theory and have begun with ‘Wealth of Nations’ (only recently finding out as this website implies that people do not actually read this book)… none the less despite the challenge, I enjoy reading it…

I wanted to know, however, does anyone have advice on parts that are more important than others. I have so far read up to about page 160 which is just before the long digressiosn on silver in book 1. My main goal is to get a good base understanding and then move on to other economists such as Ricardo, Marx, ect…

Is it neccesary to read all 900 pages or are soem parts more pertinent than others…

Thank you

]]> By: Damien http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-563 Damien Fri, 15 Jan 2010 14:53:31 +0000 http://counterecon.wordpress.com/?p=616#comment-563 Adam Smith was actually a philosopher. According to him, his greatest work, and the most popular during his lifetime, was his first: "The theory of moral sentiments". But yeah, it's like the bible, people take sections and interpret it how they want. Adam Smith was actually a philosopher. According to him, his greatest work, and the most popular during his lifetime, was his first: “The theory of moral sentiments”.

But yeah, it’s like the bible, people take sections and interpret it how they want.

]]> By: Adam Smith Favored Labor Unions « Counter Economics http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-504 Adam Smith Favored Labor Unions « Counter Economics Sat, 12 Dec 2009 15:02:51 +0000 http://counterecon.wordpress.com/?p=616#comment-504 [...] http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/ [...] [...] http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/ [...]

]]> By: sapplanningadmin http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-447 sapplanningadmin Sun, 25 Oct 2009 15:52:42 +0000 http://counterecon.wordpress.com/?p=616#comment-447 Michael, Anyone who can read A Wealth of Nations in the style of language it is written deserves some type of award. I think many people would be interested in pro-regulation quotes, and I was more under the impression the quotes were in his second book - a theory of moral sentiments. There are a few options here, you could send me the quotes by email, you could add them in as a comment. I think they will most likely warrant a post just on the quotes. Michael,

Anyone who can read A Wealth of Nations in the style of language it is written deserves some type of award. I think many people would be interested in pro-regulation quotes, and I was more under the impression the quotes were in his second book – a theory of moral sentiments. There are a few options here, you could send me the quotes by email, you could add them in as a comment. I think they will most likely warrant a post just on the quotes.

]]> By: Michael Tate http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-446 Michael Tate Sun, 25 Oct 2009 14:59:00 +0000 http://counterecon.wordpress.com/?p=616#comment-446 I'm actually about a third of the way through Wealth of Nations, and I've found that Smith is very much so pro-regulation. Also he is in favor of a minimum wage that keeps pace with inflation. If you want e-mail me and I will send you the links of quotes from Adam Smith that will make a free-marketer's head explode. I’m actually about a third of the way through Wealth of Nations, and I’ve found that Smith is very much so pro-regulation. Also he is in favor of a minimum wage that keeps pace with inflation. If you want e-mail me and I will send you the links of quotes from Adam Smith that will make a free-marketer’s head explode.

]]> By: Nobody Actually Reads Karl Marx and Capital « Counter Economics http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/#comment-359 Nobody Actually Reads Karl Marx and Capital « Counter Economics Tue, 25 Aug 2009 23:55:16 +0000 http://counterecon.wordpress.com/?p=616#comment-359 [...] http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/ [...] [...] http://counterecon.com/2009/03/27/nobody-actually-reads-adam-smith-and-a-wealth-of-nations/ [...]

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