3min chapter

Money For the Rest of Us cover image

How Should Personal and National Wealth Be Measured?

Money For the Rest of Us

CHAPTER

The Wealth of Nations

James Maitland was a Scottish philosopher and writer, also the eighth Earl of Lauderdale. He said that wealth is not just income and stock, as Adam Smith put it, but he described wealth as consisting of all that man desires as useful and delightful to him. Individual riches is a function of supply and demand; wealth can be abundance.

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