THE WEALTH OF NATIONS SUMMARY (BY ADAM SMITH)

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Adam Smith was a Scottish economist, philosopher and author, and a very successful one at that. His masterpiece “The Wealth of Nations” was released in 1776, and was at that time considered very controversial, but it has laid out the groundwork for pretty much all economics since. Smith is often referred to as “The Father of Economics” or “The Father of Capitalism”, for good reasons.

The Wealth of Nations | Part 2: https://youtu.be/423Hu1I5wa8

Top 5 takeaways from “The Wealth of Nations” by Adam Smith:
0:00 Intro
01:22 Productivity is king
04:38 Money: What is it and why do we use it?
07:35 The three components of price
10:40 The three components of price … part 2
13:30 Why some jobs pay more than others do

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