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: Real (labour) and nominal (money) price of commodities

  • Labour Theory of Value explained
  • Grains 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 9: Profits

Chap 10: Inequality in Wages and profit in the different employments

  1. Part 1: Inequalities from the Nature of Business and Employments
  2. The policies that affect employment or business
    1. Apprenticeships
    2. Corporations
    3. Wage Subsidies
    4. Poor Laws and Restrictions on immigration

Chap 11: Rent

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

    Chapter 1: The Principle of the commercial or mercantile system

    Chapter 2: Restraints on foreign imports which can be produced at home (Invisible Hand)

    Chapter 3, Part 1: Extraordinary Restraints on Importation from Countries Where the Balance is supposed to be Disadvantageous

    Chap 4: Drawbacks

    Chap 5: Bounties

    Chapter 6: Treaties Of Commerce

    Chapter 7: Colonies

    Chap 8: Conclusion on the Mercantile System

    Chap 9: Agricultural Systems

    Chap 1: Government Expences

    Chapter 2: The sources of public revenue

    Chapter 3: Ways to pay the public debt

    1. Personal treasure or credit of the ruler
    2. Anticipations and Perpefual Funding
    3. Annuities
    4. Monetary devaluation