Wednesday, 7 March 2012

The "Wealth Of Nations" turns 236

On March 9 that is.

Smith’s 1776 book marked the beginning of the Classical school of economic thought and thus is normally considered to be the beginning of economics in general. The "Wealth of Nations" was also a most aggressive attack on the mercantilist economic policies that had come to characterise England’s economic policy during that era. But mercantilist policies still seem to be with us, which is one reason why we need to remind ourselves of Smith's arguments.

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