We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world – a global total that is much larger than the world’s total pensions savings, and ten times the total of all the sovereign wealth funds on the planet – is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a ‘National Wealth Fund’ or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.
Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich’s Introduction both clarifies Smith’s analyses and illuminates his overall ...
The Wealth of Nationsby Adam Smith It is symbolic that Adam Smith’s masterpiece of economic analysis, The Wealth of Nations, was first published in 1776, the same year as...
First published in 1776, The Wealth of Nations is generally regarded as the foundation of contemporary economic thought. Adam Smith, a Scottish professor of moral philosophy, expounded the then-revolutionary doctrine...
Using a rich variety of international comparisons and new analysis, the book explores what is happening in contemporary societies from value change to the changing role of governments, and offers suggestions about what policymakers and ...
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.
A tour of modern economics as reflected by Paul Romer's new growth theory describes Adam Smith's presentation of a challenging economic puzzle more than two hundred years ago, various efforts and tools that were applied to its solution, and ...
Poorly performing schools and inadequate social services. These are common complaints in cities, which too often struggle just to keep the lights on, much less make the long-term investments necessary for future generations.
THE MOST INFLUENTIAL BOOK ON MODERN ECONOMICS The Wealth of Nations is an economics book like no other. First published in 1776, Adam Smith's groundbreaking theories provide a recipe for national prosperity that has not been bettered since.
Gabriel Zucman, a prominent young French economist, has come up with novel yet effective ways of quantifying how big the problem is, how tax havens work and are organized, and how we can begin to tackle the problem.
This is a moderately abridged current language version of the book – essentially translating the work into modern English to improve its readability and understandability.