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The Wealth of Nations (Unabridged and Illustrated)

in: Economics
Summary:

The book presents a groundbreaking analysis of economics, detailing the division of labor, productivity, and free markets. It explores the nature of wealth creation, the role of self-interest, and the limitations of government intervention in the economy.

Key points:

1. Division of Labor: Adam Smith explains that breaking jobs into smaller tasks makes workers more skilled and increases productivity, like in a pin factory where each person does one step.

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