Economics is about the wealth of nations. That phrase comes from the title of a book published in 1776 by Adam Smith, the father of economics. The wide-cut title of the book is An research into the Nature and Causes of the Wealth of Nations. In simpler words, that title is asking an grave question: why ar rough nations rich and others inadequate?
...the masher nations of hunters and fishers...are so miserably poor that, from mere want, they are frequently reduced, or, at least, think themselves reduced, to the necessity sometimes of instanter destroying, and sometimes of abandoning their infants, their old people, and those afflicted with lingering diseases, to perish with hunger, or to be devoured by wild beasts. Among civilised and thriving nations, on the contrary, though a great number of people do not labour at completely, many of whom consume the start out of ten times, frequently of a hundred times more than labour than the greater part of those who work; yet the attain of the whole labour of the society is so great that all are often abundantly supplied, and a workman, even of the last(a) and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniences of life than it is possible for any savage to acquire.
(Smith, 1776)
Today, rich nations have gr induce even richer, while some poor nations are no better off than they were in Smiths time. Annual per capita income in 2006 ranged from a gamey of $76040 in Luxembourg to a low of $100 in Burundi.
The wealth of nations like Burundi has hardly changed since Smiths time, while the wealth of nations like Luxembourg has increased hundreds of times. Why? Smiths answer was that economic progress is greatest in countries that allow people to peacefully pursue their own best interest.
Little else is requisite to carry a recite to the highest degree of opulence from the lowest barbarism but peace, voiced taxes, and a tolerable administration...If you want to get a full essay, order it on our website: Orderessay
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