Sunday, January 11, 2015

Reh Digest 01/04/2015 main points of Wealth of Nation by Adam Smith (1)

Chapter 1, Worker to Specialize in one area

Chapter 2, Self Benefit is the motivation behind every single trade between human beings; ONLY beggars rely on other people's sympathy

Chapter 3, Labor Division is limited by the size of a market (smaller market less efficient)

Chapter 4, Currency is for the convenience of trade

(to be continued)