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        Profile photo of Yaw Pereko
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        Yaw Pereko 7 months ago

        21,634 Abibisika (Black Gold) Points
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        Here is a great read an acquaintance told me about which I would like to get your feedback regarding any portion you find interesting.

        An Inquiry into the “Nature and Causes of the Wealth of Nations”

        Snippets from the document:

        Among civilized and thriving nations, on the contrary, though a great number of people do not labour at all, many of whom consume the produce of ten times, frequently of a hundred times, more labour than the greater part of those who work; yet the produce of the whole labour of the society is so great, that all are often abundantly supplied; and a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniencies of life than it is possible for any savage to acquire.

        BOOK IV.
        OF SYSTEMS OF POLITICAL ECONOMY.

        CHAPTER I.
        OF THE PRINCIPLE OF THE COMMERCIAL OR MERCANTILE SYSTEM.

        That wealth consists in money, or in gold and silver, is a popular notion which naturally arises from the double function of money, as the instrument of commerce, and as the measure of value. In consequence of its being the instrument of commerce, when we have money we can more readily obtain whatever else we have occasion for, than by means of any other commodity. The great affair, we always find, is to get money. When that is obtained, there is no difficulty in making any subsequent purchase. In consequence of its being the measure of value, we estimate that of all other commodities by the quantity of money which they will exchange for. We say of a rich man, that he is worth a great deal, and of a poor man, that he is worth very little money. A frugal man, or a man eager to be rich, is said to love money; and a careless, a generous, or a profuse man, is said to be indifferent about it. To grow rich is to get money; and wealth and money, in short, are, in common language, considered as in every respect synonymous.

        CHAPTER II.
        OF RESTRAINTS UPON IMPORTATION FROM FOREIGN COUNTRIES OF SUCH GOODS AS CAN BE PRODUCED AT HOME.

        By restraining, either by high duties, or by absolute prohibitions, the importation of such goods from foreign countries as can be produced at home, the monopoly of the home market is more or less secured to the domestic industry employed in producing them. Thus the prohibition of importing either live cattle or salt provisions from foreign countries, secures to the graziers of Great Britain the monopoly of the home market for butcher’s meat. The high duties upon the importation of corn, which, in times of moderate plenty, amount to a prohibition, give a like advantage to the growers of that commodity. The prohibition of the importation of foreign woollen is equally favourable to the woollen manufacturers. The silk manufacture, though altogether employed upon foreign materials, has lately obtained the same advantage. The linen manufacture has not yet obtained it, but is making great strides towards it. Many other sorts of manufactures have, in the same manner obtained in Great Britain, either altogether, or very nearly, a monopoly against their countrymen. The variety of goods, of which the importation into Great Britain is prohibited, either absolutely, or under certain circumstances, greatly exceeds what can easily be suspected by those who are not well acquainted with the laws of the customs.

        https://www.gutenberg.org/files/3300/3300-h/3300-h.htm

        gutenberg.org

        The Wealth of Nations | Project Gutenberg

        The Wealth of Nations | Project Gutenberg

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        abib
        3 Comments
        • Profile photo of abib
          abib
          7,635 Abibisika (Black Gold) Points
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          I think wealth is very relative! What is wealth? Is it health? I think so! Is it money? I don’t think so. Is it abundance of material such as gold, real estate,…assets? It could be. Is it intelligence or wisdom? It could be. The great Dr Myles Munro talks about The 7 Spheres of Wealth.

          So Wealth of Nations is relative.

          7 months ago
          • Profile photo of Yaw Pereko
            Yaw Pereko
            21,634 Abibisika (Black Gold) Points
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            @Alpha

            Thanks for you astute response. You said,’ “So Wealth of Nations is relative.”

            I believe true wealth of a nation is how it acquire its wealth. Capitalism do not generate true and wholesome wealth since it is driven by greed and fear over the ignorant and weak.
            I don’t believe wealth is relative, just like light is the opposite of darkness. The perception of wealth is relative, but true wealth is life giving, solid and un-corruptible from the core.

            Like
            1
            7 months ago
            • Profile photo of Njideka
              Njideka
              21,898 Abibisika (Black Gold) Points
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              “true wealth is life giving, solid and un-corruptible from the core” (well said)… just like health.

              BlackTastic!
              1
              7 months ago
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