A Closer Look at John C. Calhoun

Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.

Murray Rothbard's "Conceived in Liberty" is a comprehensive history of the American colonies before the Revolutionary War. The book details the colonists' struggle for freedom from British rule, highlighting the economic and political factors that led to the conflict. Rothbard emphasizes the importance of individual liberty and limited government, arguing that the colonists' resistance was rooted in a deep-seated commitment to self-governance. The book provides a detailed account of the various colonial governments, their strengths and weaknesses, and the evolution of American political thought. "Conceived in Liberty" offers a valuable perspective on the origins of American independence and the enduring tension between individual freedom and government control.