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.
The Leopard, originally titled 'Il Gattopardo', is a novel by Giuseppe Tomasi di Lampedusa that explores the transformation of Sicilian society during the Italian unification in the 19th century. The story centers around Don Fabrizio, the Prince of Salina, who represents the old feudal order and witnesses the transition of power from the aristocracy to the new bourgeois class. The novel is set against the backdrop of Giuseppe Garibaldi's invasion of Sicily and the subsequent unification of Italy. It is known for its vivid descriptions of Sicilian life, its complex characters, and its exploration of themes such as mortality, change, and the decline of the aristocracy[2][3][5].
What’s really going on with the global economy? Is the U.S. heading for a recession — and could the UK be among the worst hit? Anatole Kaletsky, Chief Economist at Gavekal and author of Capitalism 4.0, argues that both the U.S. and UK are stuck in outdated, pre-2008 economic thinking. He warns of a U.S. recession before year-end, a potential fiscal crisis in the UK, and a major shift in global economic power.
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