AI Snips
Chapters
Transcript
Episode notes
Modern King
- Stephen West recounts a humorous story about a conversation with a bartender.
- He compares his modern life to that of a king, highlighting the abundance and convenience available today.
Smith's Economic Focus
- Adam Smith questioned traditional economic assumptions, much like other Enlightenment thinkers challenged the status quo.
- Smith focused on economics, questioning the prevailing mercantilist system.
Wealth Redefined
- True wealth isn't just money; it's what that money buys you, or how much work is needed to acquire goods.
- The value of an hour's work has drastically changed over time due to efficiency improvements.