"The annual labour of every nation is the fund which originally supplies it with all the [necessities] and conveniences of life which it annually consumes. This opening drew a line in the sand, rejecting the fallacy that based prosperity on natural resources or precious metals."
"No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. Smith explains the increase in wealth through the productivity of labor."
"Wealth is created through production and trade. There's no such thing as a zero-sum game another venerable fallacy."
Adam Smith's 'An Inquiry into the Nature and Causes of the Wealth of Nations' provides a modern analysis of economic growth. It emphasizes the importance of labor productivity and market size in creating wealth. Smith rejects the notion that prosperity relies solely on natural resources, arguing instead that the wealth of a nation is tied to the well-being of its people. He identifies significant historical events that expanded markets as pivotal to economic development, asserting that wealth is generated through production and trade rather than being a zero-sum game.
Read at english.elpais.com
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