The Wealth of Nations (Expanded Edition, Volume 1 and 2)

Author: (English) Smith
Publisher:
Publish Date: 2001-01-01
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 and final chapter discusses 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 others should be shouldered by a specific class or members of society through special taxes. Second, how funds collected from all taxpayers are raised, and the advantages and disadvantages of various collection methods. 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.