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OK so chapter 4 of Book 3 of #WealthOfNations is a lot of *chef's kiss* and a little "...wat." Let's dive in. (III.iv.) #SmithTweets
Towns getting rich helped the country get rich in three ways:
1) They provide a market for the country.
2) They provided entrepreneurial people with the money to buy and improve land.
3) They largely ended domination and war.
(III.iv.1–4) #WealthOfTweets #SmithTweets
1) They provide a market for the country.
2) They provided entrepreneurial people with the money to buy and improve land.
3) They largely ended domination and war.
(III.iv.1–4) #WealthOfTweets #SmithTweets
3) is another wildly underappreciated argument from Smith: The commercial society that towns fostered improved governing institutions to reduce violence and increase security so that development can even happen.
That's good.
That's huge. (III.iv.4) #WealthOfTweets #SmithTweets
That's good.
That's huge. (III.iv.4) #WealthOfTweets #SmithTweets
