An Inquiry into the Nature and Causes of the Wealth of Nations

Bien avant d’être au service de l’Humanité, elles serviront les vendeurs et les revendeurs d’or, c’est-à-dire les spéculateurs, elles seront des instruments de spéculation. Or, il est beaucoup moins avantageux de spéculer sur les besoins de l’homme que sur ses vices, et, parmi ces vices, la cupidité n’est-elle pas le plus impitoyable ? L’argent tie

In his 1776 classic, The Wealth of Nations, Adam Smith explained: It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.

Mandeville shocked his audience with the starkness of the choice he placed before them. A nation could either be very high-minded, spiritually elevated, intellectually refined, and dirt poor, or a slave to luxury and idle consumption, and very rich. Mandeville’s dark thesis went on to convince almost all the great anglophone economists and politica

Have you ever wondered why so many developing economies—the successful ones, I mean—rise to prosperity through exports and tradable goods? There are a few reasons for this, but one is that the external world market provides a real measure of value. If you are exporting successfully, it’s not based on privilege, connections, corruption, or fakery. S