
The Wealth of Nations
1776 · 537 pages
Wealth is not gold in a vault but what a country produces, and specialization multiplies it. Smith begins with ten men making pins and every economic argument since descends from him.
★ 8.2

Wealth is not gold in a vault but what a country produces, and specialization multiplies it. Smith begins with ten men making pins and every economic argument since descends from him.

Every economic law follows from one fact, Mises argues: people act to relieve uneasiness. Planners without market prices are blind, and three generations of the libertarian right have drawn their economics from him.