Adam Smith's The Wealth of Nations: A modern-day interpretation of an economic classic

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Infinite Ideas, Jun 19, 2009 - Business & Economics - 128 pages
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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.
 

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Contents

29 Gender and money
59
30 Choosing the right profession
61
31 The curse of credit cards
63
32 Safe as houses
65
33 Keep the money moving
67
34 Keep the coffers full
69
35 The perils of inflation
71
36 Economies prosper by productive labour
73

8 The origin of money
17
9 What is value?
19
10 The need for banking regulation
21
11 How to make money
23
12 The market dictates price
25
13 Secrets are good for business
27
14 Create a monopoly
29
15 Avoid divisive management
31
16 Pay your people well
33
17 Dont have children
35
18 Collaboration is better than domination
37
19 Dont read this chapter
39
20 Money makes money
41
21 Working is good for the soul
43
22 How wages are determined
45
23 Success is usually dependent on ability
47
24 Playing the lottery is not an economics strategy
49
25 How insured are you really?
51
26 A little extra can make a big difference
53
27 The importance of education
55
28 Falling standards of education
57
37 Thrift is not a difty word
75
38 Confine your expenses within your income
77
39 Bankruptcy is no longer a calamity
79
40 Instant gratification is expensive
81
41 Take an interest in your interest
83
42 The connection between property and interest
85
43 Export the extra
87
44 The importance of longrange thinking
89
45 A carrot is always better than a stick
91
46 Emotion is bad for business
93
47 Overtrading eventually weakens demand
95
48 Get paid on time
97
49 War is lucrative
99
50 Focus on quality
101
51 When is cheap too cheap?
103
52 When is enough enough?
105
Conclusion
107
Reference material
109
Index
114
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About the author (2009)

Karen McCreadie has written books for business executives and international speakers on topics ranging from sales, coaching and wealth creation to the mind/body connection and psychological profiling. She is the author of Adam Smith’s The Wealth of Nations, Frank Bettger’s How I Raised Myself From Failure to Success, George S. Clason’s The Richest Man in Babylon, Napoleon Hill’s Think and Grow Rich, Robert Collier’s The Secret of the Ages and Sun Tzu’s The Art of War.

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