The Father of Modern Economics

The Wealth of Nations By Adam Smith was written in 1776 (the same year the greatest nation in the history of the world was born, yes I am an American and proud of it) and is considered to be one of the most important books in shaping our modern economies. A fair warning, this writing is not for everyone, it is extremely dense, and some of the language is a bit dated obviously. Having a decent understanding of economic theory is a necessity if you want to take anything away from this book. You also should be willing to put in a fair bit of time to finish, as it will take a while. That being said, many of the ideas in Smith’s writing, such as the division of labor, were essential to the beginnings of the industrial revolution, and still apply today. Smith touches on almost every important economic topic that one can think of, and he goes into serious detail, providing specific examples and explanations. While it will take some effort and re-reading to fully grasp some of the concepts, finishing this book will leave you with a great sense of accomplishment. Such an important book in the history of economics is an essential addition to the reading list of any aspiring economist.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s