Category Archives: Uncategorized

I will resume my series on The Wealth of Nations in my next post; in the meantime; check out this homage to another great economist: Thomas Sowell.

In Part 2 of Chapter 10 of Book I of The Wealth of Nations (I.x.c; available here), Adam Smith identifies three types of “absurd” laws and regulations — absurd because they restrict our natural liberty and distort markets: Smith then … Continue reading →

Chapter 10 of The Wealth of Nations is the second-longest chapter in Book 1 of Smith’s magnum opus: it consists of two parts, contains 115 paragraphs (52 paragraphs in part one, followed by another 63 paragraphs in part two), and … Continue reading →

Chapter 9 of Adam Smith’s Wealth of Nations (available here) is another intellectual and historical tour de force. Among other things, Smith not only compares and contrasts the levels of wealth of many different nations and regions of the world … Continue reading →

Let’s pick up my survey of Adam Smith’s Wealth of Nations where we left off: with Chapter 8 on “The Wages of Labour” (available here). As it happens, this particular chapter is one of the lengthiest and most tedious chapters … Continue reading →

Last weekend, I got to meet a pro-market sociologist, Fabio Rojas (Indiana), as well as the “open borders” advocate Bryan Caplan (George Mason) at the Santa Cruz Economic and Political Forum in Santa Cruz de la Sierra, Bolivia. Among the … Continue reading →

Luis Vega is a Bolivian singer and songwriter who originates from Santa Cruz de la Sierra, the tropical town where I visited and read Book I of The Wealth of Nations last week. Below is a small sample of his … Continue reading →

I have been reading Book I of Adam Smith’s Wealth of Nations in the old town of Santa Cruz de la Sierra in the lowlands of Bolivia this past week, and I will have much more to say about my … Continue reading →

Chapter 7 of The Wealth of Nations (available here) is a veritable economics tour de force. Among other things, Adam Smith draws a distinction between actual price (or “market price”) and natural price (or what Smith also calls “real price”): … Continue reading →