The Wealth of Nations (Revised Edition) (Volumes 1 and 2)

Author: Adam Smith (English)
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 what the nature of the resources supplied to the people of each age and nation for annual consumption is. The fifth and final chapter discusses the income of the sovereign or the state. In this chapter, I will endeavor to explain the following points: , what constitutes the necessary expenses of the sovereign or the state, and which parts should be borne by the taxes of the entire society, and which parts should be borne by the special taxes of a particular class or members of society. Second, how funds from all taxpayers of the entire society are raised, and what are the advantages and disadvantages of various methods of raising funds. 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.