The Wealth of Nations (Volume 1 and 2) - A Book That Influenced the Course of World History

Author: Adam Smith (English), translated by Yang Jingnian
Publisher:
Publishing Date: 2004-04-01
Features: The purpose of the first four chapters of this book is to explain how the income of the general public is constituted and to describe the nature of the resources consumed by people of all ages and nations each year. The fifth chapter, the last one discussed, concerns the income of the monarch or the state. In this chapter, I will endeavor to explain the following points: , what constitutes the necessary expenses of the monarch or the state, and which parts should be borne by the entire society through taxes, while which parts should be borne by a specific class or members of society through special taxes. Second, how funds collected from all taxpayers in the society are raised, and the advantages and disadvantages of various methods of collection. Third, what makes almost all modern governments allocate a portion of their income as collateral for borrowing, and what impact this debt has on real wealth, in other words, on the annual produce of the land and labor of society.