Analytic Summary of The Wealth of Nations (eBook, ePUB) - Smith, Adam
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In The Wealth of Nations, Book V: Of the Revenue of the Sovereign or Commonwealth, Adam Smith brings his masterwork to a powerful conclusion by turning to the most enduring question of political economy: what is the proper role of government? Here he analyzes the legitimate expenses of the state-defense, justice, public works, and education-before turning to the sources of public revenue and the principles of fair taxation. With his famous "four maxims of taxation" still cited by economists and policymakers today, Smith shows how governments can raise funds without crushing liberty or…mehr

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Produktbeschreibung
In The Wealth of Nations, Book V: Of the Revenue of the Sovereign or Commonwealth, Adam Smith brings his masterwork to a powerful conclusion by turning to the most enduring question of political economy: what is the proper role of government? Here he analyzes the legitimate expenses of the state-defense, justice, public works, and education-before turning to the sources of public revenue and the principles of fair taxation. With his famous "four maxims of taxation" still cited by economists and policymakers today, Smith shows how governments can raise funds without crushing liberty or prosperity. Finally, in a prophetic warning, he examines the rise of public debt, describing how constant borrowing to fund wars risks weakening nations and burdening future generations. Book V is both practical and visionary: a blueprint for responsible governance that balances freedom with necessity, and a cautionary tale about the dangers of fiscal irresponsibility. For readers who want to understand not only markets but also the responsibilities of the state, this book is a timeless guide.

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Autorenporträt
Adam Smith (1723-1790) was a Scottish economist, philosopher, and key figure of the Scottish Enlightenment, widely regarded as the "Father of Economics" and "Father of Capitalism." Educated at the University of Glasgow and Balliol College, Oxford, he became a professor of moral philosophy before publishing his groundbreaking works. His first major book, The Theory of Moral Sentiments (1759), explored human ethics, sympathy, and social behavior, while his most influential work, An Inquiry into the Nature and Causes of the Wealth of Nations (1776), laid the foundations of modern economic thought by introducing concepts such as the division of labor, free markets, and the "invisible hand." Smith's ideas profoundly shaped economic policy and philosophy, making him one of the most influential thinkers in history.