Wealth of Nations

This was somewhat of a confusing read just because I don't know much about business. However, this read got me to do a lot of thinking. Smith says "One man draws out the wire, another straights it, a third cuts it" etc..that is true but today machines have replaced man so multiple machines are now doing the work. Basically what I got from book I Chapter VII is that competition between something will determine price for something. It will either rise or fall based on how much of a product is wanted. I liked what Smith said in the very last paragraph "and of which the produce is likely to be of the greatest value, every individual, it is evident, can, in his local situation, judge much better than any statesman or lawgiver can do for him." I found that statement to be very true because no statesman can know what is truly going on in a given situation until they have experienced it. Therefore, an individual in its local situation can judge better.

This read got me to think about business and owners of companies. After thought, I found it interesting how society and business work. For example, I worked for a moving company over the summer making $11/hr working in very hot conditions. I worked with a variety of ages from high school kids to 50 and 60 year old. I am working for beer money, while this is some peoples life long career. I find it messed up that  we are doing all the hard labor while the owner does nothing (pays people to run the business) and is making millions upon millions each year. I know the owner created the company and what not,  I just find it ass backwards that the owner makes the big $$ when we are essentially the ones  making his company run. Just a thought I had that seems odd to me but it is how society works.