I'd like to preface this blog by saying that after reading An Inquiry into the Nature and Causes of the Wealth of Nations, my brain is the consistency of soup. For some reason, I could not get into this piece to save my life. Although I'm sure it's very useful knowledge to have, I grew more bored by the second, and almost didn't make it to the end; this is perhaps why I dropped my original business major. My understanding of this pieces was that it was a sort of instruction manual for how a nation becomes successful and gains wealth, but to my surprise it was just about how successful nations are internally structured. That may sound slightly redundant to those who have not yet read Wealth of Nations, but I promise you it makes sense, and if not I apologize because as I've said, my brain is soup.
A lot of this piece consisted of things that I assumed to be common sense, but apparently needed to be written down in order to be remembered. A few of these 'rules' as I guess they're called are simple things like 'don't produce more than the consumers demand,' and 'have people do the job they know.' To explain these rules slightly better, I'll use the example of ice-cream cones. The man selling ice-cream should not make more cones than are demanded by the customers. For example, if there are 4 children asking for 1 ice-cream cone each, it'd be silly for him to assemble 10 cones because 6 would melt, be useless, and actually cost the vendor money on losses. This rule is commonly known as 'supply and demand.' The second rule I pointed out was the 'do what you know' rule. By this I mean that various people with various skills come together to make one creation. An example for this would be kids working on a school project: there are 4 kids, one good at art, one good at research, one good at writing, and one good at presenting. If the project consists of drawing a picture, doing research, writing a paper, and presenting the project to the class, it would save time and effort if each student takes the role that applies to their skill. This would be much more practical than everyone doing the project on their own and turning in less impressive work.
To me, all of the rules in the Wealth of Nations seem like common sense, and I was therefore bored out of my mind while reading it. I'm not a fan of this piece because I could in no way relate to it, but I'm hoping that applying it to something in class will make it more interesting.
I agree with what you had written in the beginning about this being confusing. You are not the only one. And I also really liked your examples you had about the ice cream cones and the kids on the project its true that these things are common sense but not many people do remember the rules of business
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