Author Archives: F. E. Guerra-Pujol

We now turn to Part 1 of Chapter 2 of Book V of The Wealth of Nations. Here, Adam Smith surveys the two major “Sources of Revenue which may peculiarly belong to the Sovereign or Commonwealth” (WN, V.ii.a.1): capital and … Continue reading →

According to Wikipedia (links in the original), “Folded is a song by American singer Kehlani. It was released on June 13, 2025, via Atlantic Records as the lead single from her upcoming self-titled fifth studio album.”

Happy spring! We now turn to the next-to-last chapter of Adam Smith’s Wealth of Nations: Book V, Chapter 2, which is available here. This chapter has two parts. Part One, consisting of 21 paragraphs, surveys “the Funds or Sources of … Continue reading →

Chapter 1 of Book V of The Wealth of Nations (available here) contains a two-page conclusion consisting of six paragraphs (WN, V.i.i.1-6), but this short recap is pure gold. Here, Adam Smith lays down two general rules for public finance, … Continue reading →

Adam Smith concludes his general survey of public duties in Chapter 1 of Book V of The Wealth of Nations (available here; scroll down to “Part IV”) by pointing out one last major outlay or “expence” that every government must … Continue reading →

Nota bene: For my readers who are overseas, the “SAT” or “Scholastic Aptitude Test”, a rite of passage for most high school seniors in the U.S., is a high-stakes college entrance exam administered by a private company called the College … Continue reading →

🍀 Happy Saint Patrick’s Day! 🍀 I concluded my previous post with the following observation: “Although Adam Smith is a champion of religious liberty …, he identifies one major downside of allowing people the freedom to choose their own religion.” … Continue reading →

“The institutions for the instruction of people of all ages are chiefly those for religious instruction. This is a species of instruction of which the object is not so much to render the people good citizens in this world, as … Continue reading →

“For a very small expense the public can facilitate, can encourage and can even impose upon almost the whole body of the people the necessity of acquiring those most essential parts of education.” (WN, V.i.f.54, my emphasis) Happy Pi Day … Continue reading →