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Adam Smith

Adam Smith, the Muir portrait

Adam Smith (16 June 1723 – 17 July 1790) was a Scottish economist, philosopher and author. Also known as ''The Father of Economics'' or ''The Father of Capitalism", Smith wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The Wealth of Nations, is considered his magnum opus and the first modern work of economics.

The Wealth of Nations | Adam Smith Institute

This website provides some broad overview of the themes and ideas of Adam Smith's most famous work.

Supreme Court Ruling Puts State Regulatory Boards in Crosshairs

This article, from the Los Angeles Times, discusses recent events in the area of state regulatory laws.

Adam Smith Book 1, Ch. 2, Origin and Use of Money

Have you ever wondered why gold and silver were used as money? Why those specific metals over other commodities? This video answers these questions and outlines some of the basics of monetary economics.

Division of Labor: Burgers and Ships

A simple example of hamburgers being made at home versus at a restaurant can help illuminate the explosion of prosperity since the Industrial Revolution.

I'll Stick With These: Some Sharp Observations on the Division of Labor

A blog post on the division of labor, by Mike Munger.

World Population in Extreme Poverty

Extreme poverty is defined as living at a consumption (or income) level below 1.90 "international $" per day. International $ are adjusted for price differences between countries and for price changes over time (inflation).

The Hockey Stick of Human Prosperity

On a timeline of human history, the recent rise in standards of living resembles a hockey stick -- flatlining for all of human history and then skyrocketing in just the last few centuries.

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