The Simple Wealth of Nations

The Simple Wealth of Nations

In order to easily navigate the Wealth of Nations, here is an outline or map of the important ideas that are in each sentence and paragraph. Unlike other summaries which just get the most prominent idea in a paragraph, this version extracts each idea from each sentence and summarizes all similar ideas into a new sentence. A paragraph which has many ideas and supporting ideas imbued in it will therefore have many sentences.

This outline will help transform The Wealth of Nations into a manual for socio-economic science, just like when a mechanic consults a car's service manual when troubleshooting a car. This manual can address both simple and complex questions about socio-economics, especially useful during future socio-economic crises.

Simplification Notes
Pronoun Notes
Coin Conversion Based on Penny:



Introduction And Plan Of The Work

Chap 1: Division Of Labour

  • Division of labour increases the productivity of society,  allows inventions, and creates opulence
  • Agriculture has less division of labour than manufacturing

Chap 2: The cause of the division of labour

  • Division of labour and trade is rooted in the human ability to communicate and have logic & reason

Chap 3: Division of labour is limited by the extent of the market

  • Increasing the market size through the improvement of transportation and communications is essential to achieve the opulence of society

Chap 4: Of The origin and use of money

  • Metal money arose from the need to have a universal tool of trade to convey exchangeable value or real price.

Chap 5: The real and nominal price of commodities, or their price in labour and in money

  • Labour Theory of Value explained
  • Corn vs Silver
    • Corn is a better measure of labour from century to century
    • Silver, or metal money, is a better measure from year to year
    • Gold Vs Silver
  • Coin Reformation
    • Reformation of Silver and Gold coins

Chap 6: The component parts of the price of commodities

Chap 7: The natural and market price of commodities

 Chap 8: The Wages of Labour

Chap 9a: The Profits Of Stock

Chap 10: Wages And Profit In The Different Employments Of Labour And Stock

  1. Two causes create different revenue streams in employment and business: The nature of the employment or business, and the laws that affect them
  2. The laws that affect employment or business
    1. Reducing competition through corporations and apprenticeships
      • Apprentice-education is the best system of practical education
    2. Wage subsities to church people and teachers
    3. Restricting Immigration and Wage policies

Chap 11: Rent

  • Chapter Conclusion
    • Improvements reduce the real price of manufactures (clothing)
    • Three orders of people
  • Table
  • To Top