Chapter 9: Economic Ideas (Part 1: The Oldies)

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.

In "Emile, or On Education," Jean-Jacques Rousseau outlines his revolutionary approach to child-rearing and education. Rousseau emphasizes the importance of natural development, arguing that children should be allowed to learn through experience rather than formal instruction. He advocates for a hands-off approach, allowing children to explore their environment and develop their natural curiosity. Rousseau's ideas challenged traditional educational practices and emphasized the importance of individual freedom and self-discovery. The book has had a profound influence on educational theory and practice, shaping modern approaches to child development and learning.

The Summa Theologica is a comprehensive work divided into three parts. The first part deals with God, the creation of the world, angels, and the nature of man. The second part is subdivided into two sections: the first part of the second part discusses general principles of morality and law, while the second part of the second part addresses morality in particular, including individual virtues and vices. The third part, left unfinished by Aquinas, focuses on the person and work of Christ and the sacraments. The work also includes a posthumous supplement that concludes the third part and discusses Christian eschatology. Aquinas drew on Aristotelian and Augustinian influences and aimed to integrate faith and reason in his theological arguments.

In this seminal work, Malthus explores the dynamics between population growth and subsistence. He posits that population increases at a geometric rate, while food production can only increase arithmetically, leading to natural checks such as famine, disease, and vice. The essay discusses the implications of these ideas on societal improvement and human existence, emphasizing the necessity of understanding population dynamics for meaningful discourse on societal advancement. Malthus also details preventive and positive checks on population, such as birth control and higher mortality rates, and their effects on economic stability and human well-being.

Written in Latin between AD 397 and 400, 'Confessions' is a blend of autobiography, philosophy, theology, and critical exegesis of the Christian Bible. The first nine books are autobiographical, tracing Augustine's life from his birth to his conversion to Catholicism. He recounts his sinful youth, his involvement with Manicheism and Neoplatonism, and his eventual conversion in a Milanese garden. The last four books focus on philosophical and theological issues, including memory, time, eternity, and the interpretation of the Book of Genesis. The work is structured as a series of prayers to God, reflecting Augustine's journey of redemption and his understanding of God's grace and providence.