#adam-smith — Public Fediverse posts

"He is not saying that our self-interest, properly channelled through markets, incidentally produces good outcomes for others. He is saying that we are constitutively social creatures — that we are naturally concerned for others’ well-being independent of our own self-interest, and that a just society must be built on that recognition." #economics #canada #cdnpoli #adamsmith https://thetyee.ca/Opinion/2026/04/27/What-Pierre-Poilievre-Economic-Hero/

U.S. Congressman Adam Smith (Washington), top Democrat on the House Armed Services Committee, calmly laid out Hegseth’s and Trump’s failings with respect to #Iran, including Trump’s attacks on #NATO and allies and schoolgirls, and it is perfect. 10/10, no notes.

#Iran #AdamSmith
https://youtu.be/pE-dV4BtK6Q?si=eDfIXZBgKQXk9P-7

Hegseth defends Iran war, defense budget ask in House hearing

WASHINGTON (Gray DC) – Secretary of Defense Pete Hegseth defended the war in Iran and the president’s nearly…
#NewsBeep #News #BreakingNews #AdamSmith #breakingnews #DefenseBudgetRequest #FY27Budget #hasc #HegsethatHASC #housearmedservicescommittee #Iran #iranwar #OperationEpicFury #PeteHegseth #SecretaryofDefense #thepentagon #WarinIran
https://www.newsbeep.com/511479/

Iran War Has Cost $25 Billion So Far, Pentagon Says

Audio of this article is brought to you by the Air & Space Forces Association, honoring and supporting…
#NewsBeep #News #BreakingNews #2027budget #AdamSmith #breakingnews #CENTCOM #Gen.DanCaine #housearmedservicescommittee #Iran #Iranblockade #JayHurst #PeteHegseth #RoKhanna
https://www.newsbeep.com/511062/

Iran War Has Cost $25 Billion So Far, Pentagon Says

https://web.brid.gy/r/https://www.airandspaceforces.com/war-against-iran-cost-25-billion-pentagon/

Book Review: The Wealth of Nations by Adam Smith

Few books on money have had the lasting impact of The Wealth of Nations. First published in 1776, this classic by Adam Smith remains one of the most influential works in economics. While it is not a quick or easy read, it continues to shape how investors, policymakers, and everyday people think about markets, trade, and wealth creation.

For readers looking to deepen their financial education, this book offers a long-term perspective that complements modern strategies like budgeting, index fund investing, and building financial independence.

Buy The Wealth of Nations on Amazon

Brief Summary

The Wealth of Nations is a deep exploration of how economies function. Smith examines how individuals pursuing their own interests can unintentionally benefit society as a whole. This idea, often summarized as the “invisible hand,” is one of the most widely discussed concepts in economic thought.

The book covers topics such as division of labor, productivity, free markets, taxation, and international trade. While written in the 18th century, many of its ideas still apply to modern capitalism and investing.

Who Is Adam Smith?

Adam Smith was a Scottish economist and philosopher, often referred to as the father of modern economics. He lived during the Enlightenment, a time when thinkers were challenging traditional ideas about government and society.

Smith was not just focused on money. He was deeply interested in human behavior, ethics, and how societies organize themselves. His earlier work, The Theory of Moral Sentiments, explored the psychological side of decision-making, something that remains highly relevant to personal finance today.

Lessons Readers Can Take Away

The Power of Specialization

Smith’s concept of the division of labor explains how productivity increases when people focus on specific tasks. This idea is visible everywhere today, from global supply chains to corporate structures.

For individuals, this reinforces the value of focusing on your strengths and earning power. Increasing income through specialization can be just as important as cutting expenses.

Markets Tend to Self-Regulate

The idea of the invisible hand suggests that free markets, when left largely alone, tend to allocate resources efficiently. While not perfect, this principle underpins modern investing strategies like buying the S&P 500 and letting the market work over time.

For long-term investors, this supports a passive approach rather than trying to outsmart the market.

Wealth Comes From Productivity, Not Just Money

Smith emphasized that a nation’s wealth is based on its ability to produce goods and services, not just accumulate gold or currency.

This aligns with modern investing. Real wealth is built through owning productive assets like businesses, which is exactly what index fund investing provides.

The Role of Government Should Be Limited but Important

Smith was not anti-government. He believed in roles such as national defense, justice systems, and public works. However, he warned against excessive intervention that distorts markets.

For readers, this highlights the importance of understanding how policy decisions, taxes, and regulations can affect investments and personal finances.

Buy The Wealth of Nations on Amazon

Criticisms of the Book

It Is Dense and Difficult to Read

One of the biggest challenges is simply getting through it. The writing style is outdated, and the book is long and repetitive at times.

For beginners looking to learn budgeting or basic financial literacy, this may not be the most practical starting point.

Some Ideas Are Over-Simplified

While the invisible hand is powerful, real-world markets are more complex. Issues like monopolies, inequality, and externalities are not fully addressed in ways that match today’s economy.

Modern readers should balance Smith’s ideas with newer perspectives.

Not a Personal Finance Guide

This is not a book about budgeting, saving, or choosing a financial advisor. It is a macro-level look at economies. Readers looking for actionable steps may find it lacking in practical advice.

Should You Buy This Book?

It depends on your goals.

If you are looking for:

• A deeper understanding of how money and markets work
• A historical foundation for modern investing ideas
• One of the most important books on money ever written

Then The Wealth of Nations is worth owning, even if you read it slowly over time.

If you are looking for:

• Simple budgeting strategies
• Step-by-step investing guidance
• Quick financial wins

You are better off starting with more modern, practical books before tackling this one.

Final Thoughts

The Wealth of Nations is not a casual read, but it is a foundational one. It explains why markets work the way they do and why long-term investing strategies, like owning the S&P 500, make sense.

For readers serious about financial independence and understanding money at a deeper level, this book provides context that modern finance books often assume but rarely explain.

It will not tell you how to build a budget or pick a savings account, but it will change how you think about wealth itself.

Buy The Wealth of Nations on Amazon

Book Review: The Worldly Philosophers by Robert Heilbroner

The Worldly Philosophers is one of the most widely read books on money and economics ever written. First published in 1953, it has introduced millions of readers to the foundational ideas behind capitalism, markets, and financial systems.

For anyone searching for books on money that go beyond budgeting tips and into how the system actually works, this book offers a compelling starting point. It reads more like a story than a textbook, making complex ideas accessible without sacrificing depth.

Who is Robert Heilbroner?

Robert Heilbroner was an American economist, historian, and writer known for his ability to explain economic ideas in plain language. Unlike many academic economists, he focused less on equations and more on the people behind the theories.

Heilbroner taught at the New School for Social Research and became one of the most influential public intellectuals in economics during the 20th century. His writing style blends storytelling with analysis, which is a major reason The Worldly Philosophers remains relevant decades later.

Buy The Worldly Philosophers on Amazon

What the Book Covers

The book walks through the lives and ideas of some of history’s most important economic thinkers, including:

• Adam Smith
• Karl Marx
• John Maynard Keynes
• Thomas Malthus
• David Ricardo

Rather than presenting dry theory, Heilbroner frames each economist as a product of their time, showing how their ideas were shaped by real-world problems like industrialization, poverty, and financial instability.

This approach helps readers understand not just what these thinkers believed, but why their ideas still influence modern investing, financial planning, and public policy.

Key Lessons Readers Can Take Away

Economics Is About Human Behavior

One of the biggest takeaways is that economics is not just about numbers. It is about psychology, incentives, and decision-making. This aligns closely with modern personal finance principles, where behavior often matters more than knowledge.

Understanding this can improve how someone approaches budgeting, saving, and investing. Even the best financial advisor cannot fix poor habits.

Markets Are Not Perfect

The book makes it clear that markets, while powerful, are not flawless. Economic systems evolve, and each generation faces new challenges.

For readers focused on investing in the S&P 500, this is an important reminder. Long-term investing works not because markets are perfect, but because they adapt and grow over time despite setbacks.

Wealth Creation Has Tradeoffs

Industrial growth created enormous wealth but also inequality and instability. This tension still exists today.

Recognizing this helps readers better understand topics like inflation, wages, and housing costs, all of which directly impact personal finance decisions.

Big Ideas Shape Everyday Money Decisions

The theories discussed in the book influence everything from interest rates to job markets. That means even someone focused on budgeting apps or saving in a high-yield savings account is indirectly affected by these ideas.

Learning the foundations makes it easier to interpret financial news and make more informed decisions.

Buy The Worldly Philosophers on Amazon

Criticisms of the Book

Oversimplification

To make the material accessible, Heilbroner simplifies complex theories. Some economists argue this leads to incomplete or slightly distorted interpretations of certain ideas.

For serious students of economics, this means the book should be a starting point, not the final word.

Outdated Sections

Although updated editions exist, parts of the book feel dated. Economic thinking has evolved, especially with the rise of behavioral economics and modern financial systems.

Readers looking for cutting-edge financial strategies will not find them here.

Limited Diversity of Perspectives

The book focuses heavily on Western economists, particularly European thinkers. This leaves out other important perspectives that shape global economics today.

Should You Buy This Book?

For most readers, the answer is yes.

If you are interested in:

• Learning how money works at a deeper level
• Understanding the origins of modern investing and capitalism
• Expanding beyond basic budgeting and personal finance tips

then The Worldly Philosophers is a worthwhile addition to your reading list.

However, if you are looking for step-by-step financial advice, such as how to pick stocks or optimize a portfolio, this is not the right book.

Final Thoughts

The Worldly Philosophers stands out because it connects ideas to real life. It shows that money is not just about saving, spending, or investing, but about the systems and beliefs that shape the entire economy.

For readers building a strong financial foundation, this book complements practical tools like budgeting apps and high-yield savings accounts by adding something deeper: understanding.

That combination of knowledge and behavior is what ultimately leads to long-term financial success.

Buy The Worldly Philosophers on Amazon

Reading Adam Smith’s ”Wealth of Nations” without paying any attention to his ”Theory of Moral Sentiments”, to bring a theory of economics that utterly contradicts Smith’s own moral philosophy, exemplifies the deep-seated failures of our intellectual societies.

https://youtube.com/watch?v=lN3__qTcquw

#adamsmith #neoliberalism #economics #philosophy

250 anni dalla pubblicazione de "La ricchezza delle nazioni" di #AdamSmith. La mano invisibile, il rapporto valore-lavoro, il concetto stesso di economia politica sono nati qui. E ci hanno influenzati tanto quanto "Il capitale" di #KarlMarx. Ma con più successo nel lungo periodo. Reader https://www.dirzon.com/Doc/Reader?target=telegram%3ASmith%20-%20La%20Ricchezza%20delle%20Nazioni.pdf

@economia

#libro #UnoLibri

Pluralistic: Market participation is exhausting (30 Mar 2026)

https://web.brid.gy/r/https://pluralistic.net/2026/03/30/players-of-games/

Trump’s conflicting messages sow confusion over Iran war

WASHINGTON (AP) — President Donald Trump says the United States is winning the war …
#NewsBeep #News #BreakingNews #AdamSmith #AnnaKelly #APTopNews #breakingnews #DonaldTrump #Elections #Generalnews #GregoryMeeks #Iran #Irangovernment #iranwar #JohnKennedy #LeonPanetta #MichaelG.Rubin #Militaryanddefense #Politics #U.S.DemocraticParty #U.S.DepartmentofDefense #U.S.RepublicanParty #Washingtonnews #Worldnews
https://www.newsbeep.com/456432/

They link to this list of choice Adam Smith quotes like this:

"Wherever there is great property, there is great inequality. For ​one very rich ​man, there must ⁠be at least five hundred poor, and the affluence of the few supposes the indigence of the many."
"All for ourselves, ​and nothing for other people, seems, in every age of ​the world, ⁠to have been the vile maxim of the masters of mankind."

https://www.reuters.com/business/media-telecom/selected-quotes-adam-smiths-wealth-nations-2026-03-08/

#adamsmith #greed

De #AdamSmith, en "La riqueza de las naciones" (1776): "Tan pronto como la tierra de cualquier país se convierte toda ella en propiedad privada, los terratenientes, como todos los demás hombres, desean cosechar donde nunca sembraron, y exigen una renta hasta por el producto natural del suelo".

Sus herederos se les debería caer la cara de vergüenza. Si la tuviesen, claro.

Visto en @capitanswing.bsky.social

“not only is there no invocation of the free market […Smith] plainly sees that government, not private industry, is the only force capable of effectively ‘erecting and maintaining’ the technically unprofitable but nevertheless indispensable ‘publick works’ and ‘publick institutions’”

—Adam Smith’s THE WEALTH OF NATIONS was published 250 years ago #OTD, 8 March 1776. Evan Gottlieb examines Smith’s “Invisible Hand”

https://www.thebottleimp.org.uk/2013/05/invisible-hand-over-fist-on-the-development-and-legacy-of-adam-smiths-famous-phrase/

#Scottish #literature #18thcentury #economics #AdamSmith

Europe’s empires in America had their origins, Smith wrote, in “folly and injustice,” the thirst for gold that led the conquistadors to Mexico and Peru. Smith thought British colonies to be the best of a bad lot, “only somewhat less illiberal and oppressive than that of any of the rest.” Elsewhere he called the imperial system “invidious and malignant,” a waste of money.
#history #USpolitics #capitalism #AdamSmith #UK
https://www.washingtonpost.com/opinions/interactive/2026/adam-smith-wealth-nations-american-revolution-war/?itid=hp_opinions_p003_f013

@asltf

Yes well .. #Kapitalismus 🙄

Es war immerhin DER #AdamSmith, der davor gewarnt hatte dass die ständig steigenden #Bodenrenten in einem Staat irgendwann jegliche wirtschaftliche Entwicklung abwürgen werden.

Steigende #Mieten sind sozusagen quasi das Unkapitalistische überhaupt.

Systemkiller, sie sind.

@rmathew

The labor theory of #AdamSmith doesn’t have to be developed as a theory of value like #Marx did. It can also be developed as a normative theory of property. The labor theory of property, unlike the LTV, is meaningful and coherent. David Ellerman has formalized this ideological road not taken.

Smith was an early critic of landlordism. This line of critique eventually became #Georgism.

I doubt Smith would endorse today’s #capitalism or the views of many modern pro-capitalists.

😬😓:

“Adam Smith Is Misinterpreted And His Influence Overstated”, The Economist (https://www.economist.com/christmas-specials/2025/12/18/adam-smith-is-misinterpreted-and-his-influence-overstated or https://archive.is/hQpRa).

#Economics #Capitalism #FreeMarkets #AdamSmith #TheWealthOfNations #Legacy #Books #InvisibleHand

I've never hated #capitalism as described in my #Economics classes or by its proponents. I hate #CronyCapitalism, #monopolies & #monopsonies & their "oli-" kin ( #oligopoly for example). I want actual #FreeMarket capitalism with strong #rules, enforced equally. I want true #AdamSmith capitalism.

Why The Rich Hate Capitalism -...

In lettura adesso.

#comunismo #socialismo #economia #economiapolitica #Marx #AdamSmith #Ricardo #anticapitalismo #ClaraMattei #GigEconomy

Liberalism’s enduring tension between promoting progress and safeguarding freedom is visible in foreign aid, where well-intentioned experts often undermine dignity and self-determination by assuming they know best. https://www.japantimes.co.jp/commentary/2025/12/23/world/the-history-of-enlightened-oppression/?utm_medium=Social&utm_source=mastodon #commentary #worldnews #adamsmith #immanuelkant #johnstuartmill #marquisdecondorcet #liberalism #colonialism #foreignaid #hunger #sdg #development

@pepsy

Senza scomodare #AdamSmith, penso che sarebbe più "igienico" valutare la cosa anche e soprattutto da un punto di vista scientifico

Le #reti sono una cosa super studiata a livello accademico, da moltissimo tempo. Si potrebbero citare la teoria dei grafi (che e la *fotografia* matematica della faccenda più neutrale), la teoria dei sistemi complessi, i sistemi adattivi, oppure (quello si fa più frequentemente, purtroppo) valutare i network
1/2

@BlumeEvolution
...
Die Preisaktzeptanz beim Kunden ist völlig emotional und willkürlich. Das Konzept heißt #TargetPricing oder #Zielkostenrechnung. Die Wissenschaft darum heißt #Marketing und hat seit den 60ern die BWL aufgerollt. Vollständig.

Seitdem werden Märkte nicht mehr von außen definiert, sondern von den Marktteilnehmern, die es können. Damit wurde #AdamSmith ad absurdum geführt und die Politik hat es nicht geschnallt und nicht reagiert.
...
@h0ldi