Everything
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Everything connects to everything else.”

“Develop your senses—especially learn how to see. Realize that everything connects to everything else.” At any point in history, most of our knowledge is contained outside of individual minds. It’s contained in the cultures that spring up around us. A big part of today’s culture is the internet. It’s not only democratized knowledge, but it’s […]

Wealth of Nations
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Adam Smith: The Origin and Use of Money

Adam Smith (1723 – 1790) was a Scottish moral philosopher and a pioneer of political economics who’s best known for writing An Inquiry into the Nature and Causes of the Wealth of Nations (A.D. 1776). “[I]t is but a very small part of a man’s wants which the produce of his own labor can supply. He supplies the […]

Getting Rich vs. Staying Rich
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Getting Rich vs. Staying Rich

Abraham Germansky was a multimillionaire real estate developer in 1920s. He also loved stocks, betting heavily as the market boomed. As the crash of 1929 unfolded, he was wiped out. Getting Rich vs. Staying Rich Everything in the economy is cyclical. Nothing great or terrible is likely to stay that way for long, because the same […]

Economic Ideas: Adam Smith on Free Trade, Crony Capitalism, and the Benefits from Commercial Society
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Adam Smith on Free Trade, Crony Capitalism, and the Benefits from Commercial Society

Economic Ideas: Adam Smith on Free Trade, Crony Capitalism, and the Benefits from Commercial Society Adam Smith’s central contribution to economic understanding was surely his demonstration that under an institutional arrangement of individual liberty, property rights, and voluntary exchange the self-interested conduct of market participants could be shown to be consistent with a general betterment […]

: Ideas Change the World
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Adam Smith: Ideas Change the World

Adam Smith entered a world that his reason and eloquence would later transform. He was baptized on June 5, 1723, in Kirkcaldy, Scotland. It’s presumed that he was either born on that day or a day or two before. He would become the Father of Economics as well as one of history’s most eloquent defenders […]

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