Wealth of Nations Summarized

The wealth of society is its total productive labour relative to its consumption.

This wealth is regulated by:

  1. The quality of the workers, or the skill, dexterity, and judgement of the workers
  2. The quantity of the productive workers, or the proportion of the number of employed in useful work to those who are not so employed.

Book 1 explains the causes of this improved productivity and how its products are naturally distributed in society.

The number of productive workers is then proportional to:

  1. the quantity of capital stock employed in setting them to work
  2. how this capital stock is employed

 

Book 2 explains:

  • the nature of capital stock
  • how capital stock is accumulated
  • the quantity of labour which the capital stock mobilizes

 

Book 3 explains the plans followed by different nations in the direction of their labour.

Books 1 to 4 explain the nature and components of the revenue of society that supplies its annual consumption.

Book 5 explains the revenue of government.

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