Archive for December, 2009

The Wealth of Nations: Book 1, Chapter 1
December 29, 2009

This chapter is about the division of labor, which Smith believes is the main reason some nations are wealthier than others. Smith says the reason some nations are wealthier and more developed than others is because of the division of labor. He writes about a factory that produces thousands of pins per day, each worked on by ten different people; this illustration is somewhat famous.

He explains three reasons why the division of labor makes workers more productive.  The first two make sense:

Hello world!
December 28, 2009

A brief introduction:

This is the first post on my new blog.  I’m going to blog 500 words per day for the next month to see whether I like it.

The loose theme of this blog will be “blogging the classics of social science and philosophy.”  I’m going to read and comment on important and influential books few people read anymore – Keynes’ General Theory of Employment, Interest, and Money; Rousseau’s Discourse on the Origin and Basis of Inequality Among Men; The Federalist Papers, and so on.  I’m going to start with Adam’s Smiths’ Inquiry into the Nature and Causes of the Wealth of Nations – specifically, The Wealth of Nations (Optimized for Kindle), downloaded to my iPhone, so I’ll be commenting both on the book and on the iPhone/Kindle reading experience.

Why The Wealth of Nations?