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Scott's Reviews > An Inquiry into the Nature and Causes of the Wealth of Nations
An Inquiry into the Nature and Causes of the Wealth of Nations
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For a truth, about 3/4 of this book is 18th century blabber about corn prices. Of the remaining 1/4, about 1/2 is criticism of mercantilsm, which is mostly obvious and definitely boring.
The remaining 1/8 of the book, however, is worth fighting through the rest for. Even if you've heard the explanation of the "invisible hand" a thousand times, there is something magical about reading the actual words by the father himself:
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages."
"He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it...he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote it."
Big time. Seriously.
The remaining 1/8 of the book, however, is worth fighting through the rest for. Even if you've heard the explanation of the "invisible hand" a thousand times, there is something magical about reading the actual words by the father himself:
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages."
"He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it...he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote it."
Big time. Seriously.
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Finished Reading
April 17, 2008
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lj
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rated it 3 stars
Dec 12, 2010 08:50PM
I just began reading this book and the quote you listed struck me also, I love it. I have stalled through the middle but now look forward to picking it back up due to your discription about the ending.
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So most of the book can be skipped over?
His criticism of division of labor is also important as well
Lol, if you hate blabber about corn pieces try reading 3 volumes 1000 pages each roughly of Capital by Marx about yarn.
Well put. To the modern reader, much of the book is useless. However, the still-relevant parts are worth fighting for. In my most recent read, I actually listened to a free audio version, which made the book easier to get through; I'd recommend a listen. The chapter on valuation of a family and children, and how a father of that time had to hedge his bets against childhood mortality was one I found poignant.
Which chapters does that 1/8 include? Thanks
Thanks for the information because. Yeah the beginning is a bor.
Have you seen the price of popcorn at the theatre!? Your review has inspired me to reread this book. Nice review.
They got the mr.robot reference about the invisible hand from adam smith then?
