Introduction by Robert Reich • Commentary by R. H. Campbell and A. S. Skinner • Includes a Modern Library Reading Group Guide
This reprint of Edwin Cannan's definitive 1904 edition of The Wealth of Nations includes Cannan's famous introduction, notes, and a full index, as well as a new preface written especially for this edition by the distinguished economist George J. Stigler. Mr. Stigler's preface will be of value for anyone wishing to see the contemporary relevance of Adam Smith's thought.
For more than seventy years, Penguin has been the leading publisher of classic literature in the English-speaking world. With more than 1,700 titles, Penguin Classics represents a global bookshelf of the best works throughout history and across genres and disciplines. Readers trust the series to provide authoritative texts enhanced by introductions and notes by distinguished scholars and contemporary authors, as well as up-to-date translations by award-winning translators.
From the Trade Paperback edition.
This edition includes:An abridged selection of all 5 books for the contemporaryreaderAn original commentary offering new research and analysis byclassic literature guru Tom Butler-Bowdon A biography and chronology of Adam Smith's life and the eventssurrounding the original publication of the work
Today, The Wealth of Nations is still essential readingfor any business or self-development library, reminding us that itis the ingenuity and drive of people, not governments, that remainsthe source of personal, national and global prosperity.
Smith's message was that economic exploitation, through the monopoly trade of empire, stifled wealth-creation in both home and foreign lands. Moreover, protectionism preserved the status quo, and privileged a few elites at the expense of long run growth.
Smith wrote, "It is the industry which is carried on for the benefit of the rich and the powerful that is principally encouraged by our mercantile system. That which is carried on for the benefit of the poor and the indigent is too often either neglected or oppressed."
This edition, based on the classic Cannan version of the text, includes a foreword by George Osborne MP and an introduction by Jonathan B. Wight, University of Richmond, which aims to place the work in a business context. Wight also provides an invaluable 'Notable Quotes' section where he extracts and categorises some of the most famous and pertinent sections of Smith's work.
This classic work is as essential today as it was when it first written.
-David M. Darst, author of The Art of Asset Allocation Managing Director and Chief Investment Strategist, Morgan Stanley Individual Investor Group
"Nobody has written about the craft of money management with more insight, humor, and understanding than Adam Smith. Over the years, he has consistently separated wisdom from whimsy, brilliance from bluster, and character from chicanery."
-Byron R. Wien, coauthor of Soros on Soros Chief Investment Strategist, Pequot Capital Management
Supermoney may be even more relevant today than when it was first published nearly twenty-five years ago. Written in the bright and funny style that became Adam Smith's trademark, this book gives a view inside institutions, professionals, and the nature of markets that has rarely been shown before or since. "Adam Smith" was the first to introduce an obscure fund manager in Omaha, Nebraska, named Warren Buffett. In this new edition, Smith provides a fresh perspective in an updated Preface that contextualizes the applicability of the markets of the 1960s and 1970s to today's markets. Things change, but sometimes the more they change, the more they stay the same.
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This Xist Classics edition has been professionally formatted for e-readers with a linked table of contents. This eBook also contains a bonus book club leadership guide and discussion questions. We hope you’ll share this book with your friends, neighbors and colleagues and can’t wait to hear what you have to say about it.
According, therefore, as this produce, or what is purchased with it, bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniencies for which it has occasion.
But this proportion must in every nation be regulated by two different circumstances: first, by the skill, dexterity, and judgment with which its labour is generally applied; and, secondly, by the proportion between the number of those who are employed in useful labour, and that of those who are not so employed. Whatever be the soil, climate, or extent of territory of any particular nation, the abundance or scantiness of its annual supply must, in that particular situation, depend upon those two circumstances.
The abundance or scantiness of this supply, too, seems to depend more upon the former of those two circumstances than upon the latter. Among the savage nations of hunters and fishers, every individual who is able to work is more or less employed in useful labour, and endeavours to provide, as well as he can, the necessaries and conveniencies of life, for himself, and such of his family or tribe as are either too old, or too young, or too infirm, to go a-hunting and fishing. Such nations, however, are so miserably poor, that, from mere want, they are frequently reduced, or at least think themselves reduced, to the necessity sometimes of directly 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 civilized and thriving nations, on the contrary, though a great number of people do not labour at all, many of whom consume the produce of ten times, frequently of a hundred times, more labour than the greater part of those who work; yet the produce of the whole labour of the society is so great, that all are often abundantly supplied; and a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniencies of life than it is possible for any savage to acquire.
The sheer strength of his great work, The Wealth of Nations, discourages many from attempting to explore its rich and lucid arguments. In this brilliantly crafted volume, one of the most eminent economists of our day provides a generous selection from the entire body of Smith's work, ranging from his fascinating psychological observations on human nature to his famous treatise on what Smith called a "society of natural liberty," The Wealth of Nations.
Among the works represented in this volume in addition to The Wealth of Nations are The History of Astronomy, Lectures on Jurisprudence, The Theory of Moral Sentiments, and Smith's correspondence with David Hume.
Before each of Smith's writings Robert Heilbroner presents a clear and lively discussion that will interest the scholar as much as it will clarify the work for the non-specialist. Adam Smith emerges from this collection of his writings, as he does from his portrait in Professor Heilbroner's well-known book, as the first economist to deserve the title of "worldly philosopher."
Throughout history, some books have changed the world. They have transformed the way we see ourselves – and each other. They have inspired debate, dissent, war and revolution. They have enlightened, outraged, provoked and comforted. They have enriched lives – and destroyed them. Now Penguin brings you the works of the great thinkers, pioneers, radicals and visionaries whose ideas shook civilization and helped make us who we are.
The greatest prudence, Smith suggests, may lie in following economic self-interest in order to secure the basic necessities. This is only the first step, however, toward the much higher goal of achieving a morally virtuous life. Smith elaborates upon a theory of the imagination inspired by the philosophy of David Hume. His reasoning takes Hume's logic a step further by proposing a more sophisticated notion of sympathy, leading to a series of highly original theories involving conscience, moral judgment, and virtue.
Smith's legacy consists of his reconstruction of the Enlightenment idea of a moral, or social, science that embraces both political economy and the theory of law and government. His articulate expression of his philosophy continues to inspire and challenge modern readers.
Adam Smith's The Wealth of Nations is the great pioneering study of economic growth and performance. When first published in 1776, the factory-based Industrial Revolution was only just getting underway. However, there had been steadily rising production and incomes in Britain, the North American colonies, Holland and other countries since at least the late 17th century.
Smith uses basic theory, observation and documentary sources to analyze the nature and causes of economic advancement in general.
The book is lengthy and wide-ranging. It examines the contributions to production of labour, land and capital. It explains the economic importance of large buoyant markets and industrial specialization. It also shows that national wealth does not depend on economic factors alone. For example, the favourableness or otherwise of the political-legal environment for industry and commerce is everywhere a major influence on national prosperity.
This is a moderately abridged current language version of the book – essentially translating the work into modern English to improve its readability and understandability. The translation is substantive but retains literalness and original word order and grammar as far as possible.
BOOK 1: INDUSTRIAL PRODUCTION, DISTRIBUTION AND INCOMES
Chapter 1: Industrial Specialization
Chapter 2: The Origins Of Industrial Specialization
Chapter 3: The Extent Of The Market Limits Specialization
Chapter 4: The Origins And Use Of Money
Chapter 5: The Real Economic And Nominal Monetary Prices Of Goods
Chapter 6: Supply Prices, Production Costs And Incomes
Chapter 7: The Natural And Market Prices Of Products
Chapter 8: The Wages Of Labour
Chapter 9: The Profits Of Capital
Chapter 10: Wages And Profits In Different Trades
Chapter 11: The Rent Of Land
BOOK 2: CAPITAL – ITS NATURE, ACCUMULATION AND USES
Chapter 1: Different Types Of Capital
Chapter 2: Monetary Capital
Chapter 3: The Accumulation Of Capital
Chapter 4: Capital Lent At Interest
Chapter 5: The Different Uses Of Capital
BOOK 3: NATIONAL ECONOMIC GROWTH AND PERFORMANCE DIFFERENCES
Chapter 1: The Natural Process Of Economic Growth
Chapter 2: The Discouragement Of Agriculture In Europe After The Fall Of The Roman Empire
Chapter 3: Urban Growth And Manufacturing After The Fall Of The Roman Empire
Chapter 4: The Contribution Of Urban Industry And Commerce To Rural Economies
BOOK 4: POLITICAL-ECONOMIC THEORIES AND POLICIES
Chapter 1: The Mercantilist Political Economic Model
Chapter 2: Restrictions On Importing Goods Capable Of Domestic Production
Chapter 3: Restrictions On Imports To Correct So-called Disadvantageous Trade Balances
Chapter 4: Tax Refunds On Exports
Chapter 5: Export Subsidies
Chapter 6: Treaties Of Commerce
Chapter 7: Colonies
Chapter 8: The Mercantilist System – Conclusions
Chapter 9: The Agricultural Political Economic Model – The Notion Of Land As The Great Source Of National Wealth
BOOK 5: GOVERNMENT FINANCES – PUBLIC EXPENDITURE, TAXATION AND BORROWING
Chapter 1: Government Expenditure
Chapter 2: The Sources Of General Public Revenues
Chapter 3: Public Debts
Michael J. Sandel's "Justice" course is one of the most popular and influential at Harvard. Up to a thousand students pack the campus theater to hear Sandel relate the big questions of political philosophy to the most vexing issues of the day, and this fall, public television will air a series based on the course. Justice offers readers the same exhilarating journey that captivates Harvard students. This book is a searching, lyrical exploration of the meaning of justice, one that invites readers of all political persuasions to consider familiar controversies in fresh and illuminating ways. Affirmative action, same-sex marriage, physician-assisted suicide, abortion, national service, patriotism and dissent, the moral limits of markets—Sandel dramatizes the challenge of thinking through these con?icts, and shows how a surer grasp of philosophy can help us make sense of politics, morality, and our own convictions as well. Justice is lively, thought-provoking, and wise—an essential new addition to the small shelf of books that speak convincingly to the hard questions of our civic life.
In this “landmark contribution to humanity’s understanding of itself” (The New York Times Book Review) social psychologist Jonathan Haidt challenges conventional thinking about morality, politics, and religion in a way that speaks to conservatives and liberals alike.
Drawing on his twenty five years of groundbreaking research on moral psychology, Haidt shows how moral judgments arise not from reason but from gut feelings. He shows why liberals, conservatives, and libertarians have such different intuitions about right and wrong, and he shows why each side is actually right about many of its central concerns. In this subtle yet accessible book, Haidt gives you the key to understanding the miracle of human cooperation, as well as the curse of our eternal divisions and conflicts. If you’re ready to trade in anger for understanding, read The Righteous Mind.
Writing with his one-of-a-kind blend of causal humor, exacting intellect, and practical philosophy, David Foster Wallace probes the challenges of daily living and offers advice that renews us with every reading.
While imprisoned in a Nazi concentration camp, Simon Wiesenthal was taken one day from his work detail to the bedside of a dying member of the SS. Haunted by the crimes in which he had participated, the soldier wanted to confess to--and obtain absolution from--a Jew. Faced with the choice between compassion and justice, silence and truth, Wiesenthal said nothing. But even years after the way had ended, he wondered: Had he done the right thing? What would you have done in his place?
In this important book, fifty-three distinguished men and women respond to Wiesenthal's questions. They are theologians, political leaders, writers, jurists, psychiatrists, human rights activists, Holocaust survivors, and victims of attempted genocides in Bosnia, Cambodia, China and Tibet. Their responses, as varied as their experiences of the world, remind us that Wiesenthal's questions are not limited to events of the past.
In 2008, J.K. Rowling delivered a deeply affecting commencement speech at Harvard University. Now published for the first time in book form, VERY GOOD LIVES presents J.K. Rowling's words of wisdom for anyone at a turning point in life. How can we embrace failure? And how can we use our imagination to better both ourselves and others?
Drawing from stories of her own post-graduate years, the world famous author addresses some of life's most important questions with acuity and emotional force.
Sam Harris’s first book, The End of Faith, ignited a worldwide debate about the validity of religion. In the aftermath, Harris discovered that most people—from religious fundamentalists to nonbelieving scientists—agree on one point: science has nothing to say on the subject of human values. Indeed, our failure to address questions of meaning and morality through science has now become the most common justification for religious faith. It is also the primary reason why so many secularists and religious moderates feel obligated to "respect" the hardened superstitions of their more devout neighbors.
In this explosive new book, Sam Harris tears down the wall between scientific facts and human values, arguing that most people are simply mistaken about the relationship between morality and the rest of human knowledge. Harris urges us to think about morality in terms of human and animal well-being, viewing the experiences of conscious creatures as peaks and valleys on a "moral landscape." Because there are definite facts to be known about where we fall on this landscape, Harris foresees a time when science will no longer limit itself to merely describing what people do in the name of "morality"; in principle, science should be able to tell us what we ought to do to live the best lives possible.
Bringing a fresh perspective to age-old questions of right and wrong and good and evil, Harris demonstrates that we already know enough about the human brain and its relationship to events in the world to say that there are right and wrong answers to the most pressing questions of human life. Because such answers exist, moral relativism is simply false—and comes at increasing cost to humanity. And the intrusions of religion into the sphere of human values can be finally repelled: for just as there is no such thing as Christian physics or Muslim algebra, there can be no Christian or Muslim morality.
Using his expertise in philosophy and neuroscience, along with his experience on the front lines of our "culture wars," Harris delivers a game-changing book about the future of science and about the real basis of human cooperation.
NAMED ONE OF THE BEST BOOKS OF THE YEAR BY THE ECONOMIST
With the wisdom, humor, curiosity, and sharp insights that have brought millions of readers to his New York Times column and his previous bestsellers, David Brooks has consistently illuminated our daily lives in surprising and original ways. In The Social Animal, he explored the neuroscience of human connection and how we can flourish together. Now, in The Road to Character, he focuses on the deeper values that should inform our lives.
Looking to some of the world’s greatest thinkers and inspiring leaders, Brooks explores how, through internal struggle and a sense of their own limitations, they have built a strong inner character. Labor activist Frances Perkins understood the need to suppress parts of herself so that she could be an instrument in a larger cause. Dwight Eisenhower organized his life not around impulsive self-expression but considered self-restraint. Dorothy Day, a devout Catholic convert and champion of the poor, learned as a young woman the vocabulary of simplicity and surrender. Civil rights pioneers A. Philip Randolph and Bayard Rustin learned reticence and the logic of self-discipline, the need to distrust oneself even while waging a noble crusade.
Blending psychology, politics, spirituality, and confessional, The Road to Character provides an opportunity for us to rethink our priorities, and strive to build rich inner lives marked by humility and moral depth.
“Joy,” David Brooks writes, “is a byproduct experienced by people who are aiming for something else. But it comes.”
Praise for The Road to Character
“A hyper-readable, lucid, often richly detailed human story.”—The New York Times Book Review
“This profound and eloquent book is written with moral urgency and philosophical elegance.”—Andrew Solomon, author of Far from the Tree and The Noonday Demon
“A powerful, haunting book that works its way beneath your skin.”—The Guardian
“Original and eye-opening . . . Brooks is a normative version of Malcolm Gladwell, culling from a wide array of scientists and thinkers to weave an idea bigger than the sum of its parts.”—USA Today
Our brains were designed for tribal life, for getting along with a select group of others (Us) and for fighting off everyone else (Them). But modern times have forced the world’s tribes into a shared space, resulting in epic clashes of values along with unprecedented opportunities. As the world shrinks, the moral lines that divide us become more salient and more puzzling. We fight over everything from tax codes to gay marriage to global warming, and we wonder where, if at all, we can find our common ground.
A grand synthesis of neuroscience, psychology, and philosophy, Moral Tribes reveals the underlying causes of modern conflict and lights the way forward. Greene compares the human brain to a dual-mode camera, with point-and-shoot automatic settings (“portrait,” “landscape”) as well as a manual mode. Our point-and-shoot settings are our emotions—efficient, automated programs honed by evolution, culture, and personal experience. The brain’s manual mode is its capacity for deliberate reasoning, which makes our thinking flexible. Point-and-shoot emotions make us social animals, turning Me into Us. But they also make us tribal animals, turning Us against Them. Our tribal emotions make us fight—sometimes with bombs, sometimes with words—often with life-and-death stakes.
A major achievement from a rising star in a new scientific field, Moral Tribes will refashion your deepest beliefs about how moral thinking works and how it can work better.
SAN FRANCISCO CHRONICLE
Here are the great minds of Western civilization and their pivotal ideas, from Plato to Hegel, from Augustine to Nietzsche, from Copernicus to Freud. Richard Tarnas performs the near-miracle of describing profound philosophical concepts simply but without simplifying them. Ten years in the making and already hailed as a classic, THE PASSION OF THE WESERN MIND is truly a complete liberal education in a single volume.
From the Trade Paperback edition.
The Ethics of What We Eat explores the impact our food choices have on humans, animals, and the environment. Recognizing that not all of us will become vegetarians, Singer and Mason offer ways to make healthful, humane food choices. As they point out: You can be ethical without being fanatical.
In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets?
In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?
features a revised translation (with little editorial intervention),
expanded notes (including a summary of the argument of each chapter), an
expanded Introduction, and a revised glossary.
In the spring of 2011, Jon Katz received a phone call that would challenge every idea he ever had about mercy and compassion. An animal control officer had found a neglected donkey on a farm in upstate New York, and she hoped that Jon and his wife, Maria, would be willing to adopt him. Jon wasn’t planning to add another animal to his home on Bedlam Farm, certainly not a very sick donkey. But the moment he saw the wrenching sight of Simon, he felt a powerful connection. Simon touched something very deep inside of him. Jon and Maria decided to take him in.
Simon’s recovery was far from easy. Weak and malnourished, he needed near constant care, but Jon was determined to help him heal. As Simon’s health improved, Jon would feed him by hand, read to him, take him on walks, even confide in him like an old and trusted friend. Then, miraculously, as if in reciprocation, Simon began to reveal to Jon the true meaning of compassion, the ways in which it can transform our lives and inspire us to take great risks.
This radically different perspective on kindness and empathy led Jon to a troubled border collie from Ireland in need of a home, a blind pony who had lived outside in a pasture for fifteen years, and a new farm for him and Maria. In the great tradition of heroes—from Don Quixote to Shrek—who faced the world in the company of their donkeys, Jon came to understand compassion and mercy in a new light, learning to open up “not just to Simon, not just to animals, but to the human experience. To love, to risk, to friendship.”
With grace, warmth, and keen emotional insight, Saving Simon plumbs the depths of the bonds we form with our animals, and the rewards of “living a more compassionate, considered, and meaningful life.”
Praise for Saving Simon
“Heartwarming . . . a touching tale.”—USA Today
“Highly recommended . . . an enjoyable and thoughtful work.”—Library Journal (starred review)
“[Saving Simon] handles the emotional highs and lows of living with animals with empathy and thoughtfulness, forcing readers to re-examine their own meanings of compassion and mercy.”—Kirkus Reviews
“The message of this true story will linger with the reader long after the book has been placed on the shelf.”—Bookreporter
Three months after George Saunders gave a graduation address at Syracuse University, a transcript of that speech was posted on the website of The New York Times, where its simple, uplifting message struck a deep chord. Within days, it had been shared more than one million times. Why? Because Saunders’s words tap into a desire in all of us to lead kinder, more fulfilling lives. Powerful, funny, and wise, Congratulations, by the way is an inspiring message from one of today’s most influential and original writers.
Praise for Congratulations, by the way
“As slender as a psalm, and as heavy.”—The New York Times
“The graduating college senior in your life probably just wants money. But if you want to impart some heartfelt, plainspoken wisdom in addition to a check, you can't do much better than [Congratulations, by the way].”—Entertainment Weekly
“The loving selflessness that [George Saunders] advises and the interconnectedness that he recognizes couldn’t be purer or simpler—or more challenging.”—Kirkus Reviews
“Warm and tender.”—Publishers Weekly
“A thought-provoking guide to enlightened and progressive personal behavior.”
An essential guide to ethical action updated for our challenging times, How Good People Make Tough Choices by Rushworth M. Kidder offers practical tools for dealing with the difficult moral dilemmas we face in our everyday lives. The founder and president of the Institute for Global Ethics, Dr. Kidder provides guidelines for making the important decisions in situations that may not be that clear cut—from most private and personal to the most public and global. Former U.S. senator and NBA legend Bill Bradley calls How Good People Make Tough Choices “a valuable guide to more informed and self-conscious moral judgments.”
Few ancient works have been as influential as the Meditations of Marcus Aurelius, philosopher and emperor of Rome (A.D. 161–180). A series of spiritual exercises filled with wisdom, practical guidance, and profound understanding of human behavior, it remains one of the greatest works of spiritual and ethical reflection ever written. Marcus’s insights and advice—on everything from living in the world to coping with adversity and interacting with others—have made the Meditations required reading for statesmen and philosophers alike, while generations of ordinary readers have responded to the straightforward intimacy of his style. For anyone who struggles to reconcile the demands of leadership with a concern for personal integrity and spiritual well-being, the Meditations remains as relevant now as it was two thousand years ago.
Throughout history, some books have changed the world. They have transformed the way we see ourselves—and each other. They have inspired debate, dissent, war and revolution. They have enlightened, outraged, provoked and comforted. They have enriched lives—and destroyed them.
Now, Penguin brings you the works of the great thinkers, pioneers, radicals and visionaries whose ideas shook civilization, and helped make us who we are. Penguin's Great Ideas series features twelve groundbreaking works by some of history's most prodigious thinkers, and each volume is beautifully packaged with a unique type-drive design that highlights the bookmaker's art. Offering great literature in great packages at great prices, this series is ideal for those readers who want to explore and savor the Great Ideas that have shaped the world.
Jesse Ventura reviews Major General Butler’s original writings and brings them up to date, relating them to our current political climate. Butler was a visionary in his day, and Ventura works to show how right he was and how wrong our current democracy is. Read for the first time Butler’s words with Ventura’s witty, yet insightful spin on this relevant work that will appeal not only to military historians, but also to those interested in the state of our country and the entire world.
In Lying, best-selling author and neuroscientist Sam Harris argues that we can radically simplify our lives and improve society by merely telling the truth in situations where others often lie. He focuses on "white" lies—those lies we tell for the purpose of sparing people discomfort—for these are the lies that most often tempt us. And they tend to be the only lies that good people tell while imagining that they are being good in the process.