One of the most influential books written on the economics till date, the audience for the book was initially not the average reader; it was for the British parliament. The book covered in detail, the functioning of the economy with respect to colonial trade across British colonies, which remained in a bad shape for quite sometime. The book was not a critique but establishes a framework for functioning of the British economy and better ways of doing trade and associated aspects. Today, the book is interpreted for the modern day world of finance, business and economics. Some of the things that the book was able to spell out correctly were; superiority of market mechanisms, maximize profit, government restraint and mercantilist policies.
The basic premise of the book can be summarised as individuals to be far more knowledgeable about investing their money, than any one else. The main motive for investing in business by individuals is to maximize profit and this need to be acknowledged by the state. With this in mind there needs to appropriate government restraint at controlling business, else it would prove counter-productive in the long run. This brings us to the mercantilist policy – whereby individuals not haven chosen to benefit the society, end up doing the larger good to society as a whole, by manufacturing, producing and manufacturing goods and services for the betterment of the society. This book and other economic books are available on the online shopping website, homeshop18. Buy book online for Rs.226, with a 20% off on MRP and avail Free Shipping on all books online on the e shop.
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