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Adam Smith

The Wealth of Nations

Adam Smith's Landmark of Economic Theory, Capitalism, and Free Markets

It is central thesis of Smith's "The Wealth of Nations" is that our individual need to fulfill self-interest results in societal benefit, in what is known as his "invisible hand". Adam Smith wrote The Wealth of Nations in 1776 to criticize mercantilism, which was the primary economic system at the time. Under mercantilism, it was believed that wealth was finite. Prosperity could be increased by keeping gold and precious metals and tariffing goods from other countries. Smith laid the foundations of classical free market economic theory. The Wealth of Nations was a precursor to the modern academic discipline of economics. In this and other works, he expounded upon how rational self-interest and competition can lead to economic prosperity.

"The financial crisis of 2008 prompted a renewed critical interest in the moral limits and the sense of justice inherent in the market economy. But while the valuable pursuits of political theorists have enabled them to speak more directly to the economic dimension of our lives, they only rarely touch on the political roots of the central institution of all market economies-money. In The Currency of Politics, political theorist Stefan Eich responds to this blind-spot by offering an intellectual history of money, as the concept was developed over time through the insight of some key political philosophers. Showing the ways in which money is an inherently political institution, Eich examines six key moments of monetary crisis and the political reflection they elicited, from Aristotle and the invention of coinage to the "Great Inflation" of the 1970s and the subsequent disappearance of discussions of money from political theory. What ties the moments together, he argues, is a set of recurring concerns with monetary politics that unfold as a conversation across time, constantly offering revisionist assessments of prior crises. Whether we know it or not, these layers of crisis have come to define the way we look at money, and they continue to reverberate today. In surveying the history Eich responds to the most pressing political questions about money which arise from within the long history of political thought and maps out several possible paths for thinking politically about the governance of money"--

Money in the history of political thought, from ancient Greece to the Great Inflation of the 1970s In the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies—money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. The Currency of Politics takes readers from ancient Greece to today to provide an intellectual history of money, drawing on the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule. Money appears to be beyond the reach of democratic politics, but this appearance—like so much about money—is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. He shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning. Recovering foundational ideas at the intersection of monetary rule and democratic politics, The Currency of Politics explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money.

The Political Theory of Money from Aristotle to Keynes

The Currency of Politics

The unlikely story of how Americans canonized Adam Smith as the patron saint of free markets Originally published in 1776, Adam Smith’s The Wealth of Nations was lauded by America’s founders as a landmark work of Enlightenment thinking about national wealth, statecraft, and moral virtue. Today, Smith is one of the most influential icons of economic thought in America. Glory Liu traces how generations of Americans have read, reinterpreted, and weaponized Smith’s ideas, revealing how his popular image as a champion of American-style capitalism and free markets is a historical invention. Drawing on a trove of illuminating archival materials, Liu tells the story of how an unassuming Scottish philosopher captured the American imagination and played a leading role in shaping American economic and political ideas. She shows how Smith became known as the father of political economy in the nineteenth century and was firmly associated with free trade, and how, in the aftermath of the Great Depression, the Chicago School of Economics transformed him into the preeminent theorist of self-interest and the miracle of free markets. Liu explores how a new generation of political theorists and public intellectuals has sought to recover Smith’s original intentions and restore his reputation as a moral philosopher. Charting the enduring fascination that this humble philosopher from Scotland has held for American readers over more than two centuries, Adam Smith’s America shows how Smith continues to be a vehicle for articulating perennial moral and political anxieties about modern capitalism.

The unlikely story of how Americans canonized Adam Smith as the patron saint of free markets Originally published in 1776, Adam Smith’s The Wealth of Nations was lauded by America’s founders as a landmark work of Enlightenment thinking about national wealth, statecraft, and moral virtue. Today, Smith is one of the most influential icons of economic thought in America. Glory Liu traces how generations of Americans have read, reinterpreted, and weaponized Smith’s ideas, revealing how his popular image as a champion of American-style capitalism and free markets is a historical invention. Drawing on a trove of illuminating archival materials, Liu tells the story of how an unassuming Scottish philosopher captured the American imagination and played a leading role in shaping American economic and political ideas. She shows how Smith became known as the father of political economy in the nineteenth century and was firmly associated with free trade, and how, in the aftermath of the Great Depression, the Chicago School of Economics transformed him into the preeminent theorist of self-interest and the miracle of free markets. Liu explores how a new generation of political theorists and public intellectuals has sought to recover Smith’s original intentions and restore his reputation as a moral philosopher. Charting the enduring fascination that this humble philosopher from Scotland has held for American readers over more than two centuries, Adam Smith’s America shows how Smith continues to be a vehicle for articulating perennial moral and political anxieties about modern capitalism.

How a Scottish Philosopher Became an Icon of American Capitalism

Adam Smith’s America

Wealth is so much more than having more money. . . . . . In this empowering and inspiring collaboration, shamanic priestess and wealth consciousness coach, Jen Piceno, pulls together a group of experts who will help you redefine wealth, and achieve it in ways you never thought possible. This book combines ancient wisdom and magic with practical strategies so you have a more complete, holistic, and effective toolkit. Get ready to look at your wealth goals with a new, fresh, and profoundly powerful perspective.

Sacred Strategies for Abundance

Wealth Codes

Shortlisted for the Financial Times Business Book of the Year&nbsp; Named a Best Book of 2022 by The Economist “A gripping fly-on-the-wall story of the rise of this unique and important industry based on extensive interviews with some of the most successful venture capitalists.” - Daniel Rasmussen, Wall Street Journal “A must-read for anyone seeking to understand modern-day Silicon Valley and even our economy writ large.” -Bethany McLean, The Washington Post "A rare and unsettling look inside a&nbsp;subculture of unparalleled influence.” —Jane Mayer "A classic...A book of exceptional reporting, analysis and storytelling.” —Charles Duhigg From the New York Times bestselling author of More Money Than God comes the astonishingly frank and intimate story of Silicon Valley’s dominant venture-capital firms—and how their strategies and fates have shaped the path of innovation and the global economy Innovations rarely come from “experts.” Elon Musk was not an “electric car person” before he started Tesla. When it comes to improbable innovations, a legendary tech VC told Sebastian Mallaby, the future cannot be predicted, it can only be discovered. It is the nature of the venture-capital game that most attempts at discovery fail, but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business, all of Silicon Valley, the wider tech sector, and, by extension, the world. &nbsp;&nbsp; In The Power Law, Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all time—the key figures at Sequoia, Kleiner Perkins, Accel, Benchmark, and Andreessen Horowitz, as well as Chinese partnerships such as Qiming and Capital Today—into a riveting blend of storytelling and analysis that unfurls the history of tech incubation, in the Valley and ultimately worldwide. We learn the unvarnished truth, often for the first time, about some of the most iconic triumphs and infamous disasters in Valley history, from the comedy of errors at the birth of Apple to the avalanche of venture money that fostered hubris at WeWork and Uber. &nbsp; VCs’ relentless search for grand slams brews an obsession with the ideal of the lone entrepreneur-genius, and companies seen as potential “unicorns” are given intoxicating amounts of power, with sometimes disastrous results. On a more systemic level, the need to make outsized bets on unproven talent reinforces bias, with women and minorities still represented at woefully low levels. This does not just have social justice implications: as Mallaby relates, China’s homegrown VC sector, having learned at the Valley’s feet, is exploding and now has more women VC luminaries than America has ever had. Still, Silicon Valley VC remains the top incubator of business innovation anywhere—it is not where ideas come from so much as where they go to become the products and companies that create the future. By taking us so deeply into the VCs’ game, The Power Law helps us think about our own future through their eyes.

Shortlisted for the Financial Times Business Book of the Year&nbsp; Named a Best Book of 2022 by The Economist “A gripping fly-on-the-wall story of the rise of this unique and important industry based on extensive interviews with some of the most successful venture capitalists.” - Daniel Rasmussen, Wall Street Journal “A must-read for anyone seeking to understand modern-day Silicon Valley and even our economy writ large.” -Bethany McLean, The Washington Post "A rare and unsettling look inside a&nbsp;subculture of unparalleled influence.” —Jane Mayer "A classic...A book of exceptional reporting, analysis and storytelling.” —Charles Duhigg From the New York Times bestselling author of More Money Than God comes the astonishingly frank and intimate story of Silicon Valley’s dominant venture-capital firms—and how their strategies and fates have shaped the path of innovation and the global economy Innovations rarely come from “experts.” Elon Musk was not an “electric car person” before he started Tesla. When it comes to improbable innovations, a legendary tech VC told Sebastian Mallaby, the future cannot be predicted, it can only be discovered. It is the nature of the venture-capital game that most attempts at discovery fail, but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business, all of Silicon Valley, the wider tech sector, and, by extension, the world. &nbsp;&nbsp; In The Power Law, Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all time—the key figures at Sequoia, Kleiner Perkins, Accel, Benchmark, and Andreessen Horowitz, as well as Chinese partnerships such as Qiming and Capital Today—into a riveting blend of storytelling and analysis that unfurls the history of tech incubation, in the Valley and ultimately worldwide. We learn the unvarnished truth, often for the first time, about some of the most iconic triumphs and infamous disasters in Valley history, from the comedy of errors at the birth of Apple to the avalanche of venture money that fostered hubris at WeWork and Uber. &nbsp; VCs’ relentless search for grand slams brews an obsession with the ideal of the lone entrepreneur-genius, and companies seen as potential “unicorns” are given intoxicating amounts of power, with sometimes disastrous results. On a more systemic level, the need to make outsized bets on unproven talent reinforces bias, with women and minorities still represented at woefully low levels. This does not just have social justice implications: as Mallaby relates, China’s homegrown VC sector, having learned at the Valley’s feet, is exploding and now has more women VC luminaries than America has ever had. Still, Silicon Valley VC remains the top incubator of business innovation anywhere—it is not where ideas come from so much as where they go to become the products and companies that create the future. By taking us so deeply into the VCs’ game, The Power Law helps us think about our own future through their eyes.

Venture Capital and the Making of the New Future

The Power Law

"A systemic account of how institutions shape economic development Institutions matter for economic development. Yet, despite this accepted wisdom, new institutional economics (NIE) has yet to provide a comprehensive look at what constitutes the institutional foundation of economic development (IFED). Bringing together findings from a range a fields, from development economics and development studies to political science and sociology, The Institutional Foundation of Economic Development explores the precise mechanisms through which institutions affect growth. Shiping Tang contends institutions shape economic development through four "Big Things": possibility, incentive, capability, and opportunity. From this perspective, IFED has six major dimensions: political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. Tang further argues that IFED is only one pillar within the New Development Triangle (NDT): sustained economic development also requires strong state capacity and sound socioeconomic policies. Arguing for an evolutionary approach tied to a country's stage of development, The Institutional Foundation of Economic Development advances an understanding of institutions and economic development through a holistic, interdisciplinary lens"--

A systemic account of how institutions shape economic development Institutions matter for economic development. Yet despite this accepted wisdom, new institutional economics (NIE) has yet to provide a comprehensive look at what constitutes the institutional foundation of economic development (IFED). Bringing together findings from a range a fields, from development economics and development studies to political science and sociology, The Institutional Foundation of Economic Development explores the precise mechanisms through which institutions affect growth. Shiping Tang contends that institutions shape economic development through four “Big Things”: possibility, incentive, capability, and opportunity. From this perspective, IFED has six major dimensions: political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. Tang further argues that IFED is only one pillar within the New Development Triangle (NDT): sustained economic development also requires strong state capacity and sound socioeconomic policies. Arguing for an evolutionary approach tied to a country’s stage of development, The Institutional Foundation of Economic Development advances an understanding of institutions and economic development through a holistic, interdisciplinary lens.

The Institutional Foundation of Economic Development

'A latter-day Canterbury Tales ... Serious Money has a serious mission' The Times 'Eye-opening ... part guide, part indictment of a yawning wealth gap' Misha Glenny, Financial Times London is a plutocrat's paradise, with more resident billionaires than New York, Hong Kong or Moscow. Far from trickling down, their wealth is burning up the environment and swallowing up the city. But what do we really know about London's super rich, and the lives they lead? To find out more about this secretive elite, sociologist Caroline Knowles walks the streets of London from the City to suburban Surrey. Her walks reveal how the wealthy shape the capital in their image, creating a new world of gated communities and luxury developments. Along the way we meet a wide and wickedly entertaining cast of millionaires, billionaires and those who serve them: bankers, tech tycoons, Conservative party donors, butlers, bodyguards, divorce lawyers and many more. By turns jaw-dropping, enraging and enlightening, Serious Money explodes the fiction that wealth is a condition to aspire to, revealing the isolation and paranoia which accompany it when the plutocrat's recompense - a life of unlimited luxury - ultimately proves hollow. It is a powerful reminder that it is not just the super-rich who get to make the city: we make it too, and could demand something different. Because serious money is good for no one - not even the rich. 'An eye-opening, deeply disturbing, fast-moving journey through the lives, homes and affairs of the filthy rich of London' Danny Dorling, author of All That Is Solid 'A wonderful and vital account of a city ruled by, and for, extreme wealth' Anna Minton, author of Big Capital

'A latter-day Canterbury Tales ... Serious Money has a serious mission' The Times 'Eye-opening ... part guide, part indictment of a yawning wealth gap' Misha Glenny, Financial Times London is a plutocrat's paradise, with more resident billionaires than New York, Hong Kong or Moscow. Far from trickling down, their wealth is burning up the environment and swallowing up the city. But what do we really know about London's super rich, and the lives they lead? To find out more about this secretive elite, sociologist Caroline Knowles walks the streets of London from the City to suburban Surrey. Her walks reveal how the wealthy shape the capital in their image, creating a new world of gated communities and luxury developments. Along the way we meet a wide and wickedly entertaining cast of millionaires, billionaires and those who serve them: bankers, tech tycoons, Conservative party donors, butlers, bodyguards, divorce lawyers and many more. By turns jaw-dropping, enraging and enlightening, Serious Money explodes the fiction that wealth is a condition to aspire to, revealing the isolation and paranoia which accompany it when the plutocrat's recompense - a life of unlimited luxury - ultimately proves hollow. It is a powerful reminder that it is not just the super-rich who get to make the city: we make it too, and could demand something different. Because serious money is good for no one - not even the rich. 'An eye-opening, deeply disturbing, fast-moving journey through the lives, homes and affairs of the filthy rich of London' Danny Dorling, author of All That Is Solid 'A wonderful and vital account of a city ruled by, and for, extreme wealth' Anna Minton, author of Big Capital

Walking Plutocratic London

Serious Money

The revolutionary method to build unimaginable wealth via seemingly boring small and medium-sized businesses acquisitions by New York Times bestselling author, host of BigDeal podcast and Forbes top 10 global creator, Codie Sanchez ****THE INSTANT NEW YORK TIMES BESTSELLER**** Rich people know a secret. In this book, former Wall Street investor Codie Sanchez pulls back the curtain. Most people look for wealth in all the wrong places.. From dropshipping and startups to grinding for promotions, you might believe you have to trade your life to be one of the few who win. But the truly rich know these paths are paved with delusion and false promises. In Main Street Millionaire, Codie Sanchez teaches you the path the wealthy really walk. Instead of risking it all with little chance of success, she shows you how to acquire cash-flowing businesses that are winning right now. Sanchez, one of the world's leading small business experts, reveals the dealmaking framework she's taught to tens of thousands, and that she's used to build her own 9-figure holding company. Her secret? She acquires overlooked "Main Street" businesses, or small businesses available to us all on the high street. We're talking about the unsexy but reliably profitable industries - like plumbing, construction, cleaning, electrical - that white collar workers have overlooked. In this book, you'll see practical strategies and step by step processes to acquire cash flow and freedom.You will learn: <ul><li>Why today's market is ripe for generational wealth creation</li><li>How to identify and close amazing business deals, without being wealthy</li><li>How to 10x your growth after acquiring a small business</li><li>The seven businesses you should never buy, and why</li><li>How to own multiple businesses at once (without losing your mind)</li></ul> Main Street Millionaire will reshape the way you think about your wealth and ownership forever. However, it's not for slackers. It's for those who want meaning and fulfilment while building their community. Codie's no-BS, out-of-the-box wisdom is the antidote to a complacent life of making other people rich. Published by FlightStory Books.

Rich people know a secret. In this book, former Wall Street investor Codie Sanchez pulls back the curtain. Most people look for wealth in all the wrong places.. From dropshipping and startups to grinding for promotions, you might believe you have to trade your life to be one of the few who win. But the truly rich know these paths are paved with delusion and false promises. In Main Street Millionaire, Codie Sanchez teaches you the path the wealthy really walk. Instead of risking it all with little chance of success, she shows you how to acquire cash-flowing businesses that are winning right now. Sanchez, one of the world’s leading small business experts, reveals the dealmaking framework she’s taught to tens of thousands, and that she’s used to build her own 9-figure holding company. Her secret? She acquires overlooked “Main Street” businesses, or small businesses available to us all on the high street. We’re talking about the unsexy but reliably profitable industries — like plumbing, construction, cleaning, electrical — that white collar workers have overlooked. In this book, you’ll see practical strategies and step by step processes to acquire cash flow and freedom.You will learn: <ul><li>Why today’s market is ripe for generational wealth creation</li><li>How to identify and close amazing business deals, without being wealthy</li><li>How to 10x your growth after acquiring a small business</li><li>The seven businesses you should never buy, and why</li><li>How to own multiple businesses at once (without losing your mind)</li></ul> Main Street Millionaire will reshape the way you think about your wealth and ownership forever. However, it’s not for slackers. It’s for those who want meaning and fulfilment while building their community. Codie's no-BS, out-of-the-box wisdom is the antidote to a complacent life of making other people rich.

How to Make Extraordinary Wealth Buying Ordinary Businesses

Main Street Millionaire

What all of us can do to fight the pervasive human tendency to enable wrongdoing in the workplace, politics, and beyond It is easy to condemn obvious wrongdoers such as Elizabeth Holmes, Harvey Weinstein, and the Sackler family. But we rarely think about the many people who supported their unethical or criminal behavior. In each case there was a supporting cast of complicitors: business partners, employees, investors, news organizations, and others. And, whether we're aware of it or not, almost all of us have been complicit in the unethical behavior of others. In Complicit, Harvard Business School professor Max Bazerman confronts our complicity head-on and offers strategies for recognizing and avoiding the psychological and other traps that lead us to ignore, condone, or actively support wrongdoing in our businesses, organizations, communities, politics, and more. Complicit tells compelling stories of those who enabled the Theranos and WeWork scandals, the opioid crisis, the sexual abuse that led to the #MeToo movement, and the January 6th U.S. Capitol attack. The book describes seven different behavioral profiles that can lead to complicity in wrongdoing, ranging from true partners to those who unknowingly benefit from systemic privilege, including white privilege, and it tells the story of Bazerman's own brushes with complicity. Complicit also offers concrete and detailed solutions, describing how individuals, leaders, and organizations can more effectively prevent complicity. By challenging the notion that a few bad apples are responsible for society's ills, Complicit implicates us all-and offers a path to creating a more ethical world.

What all of us can do to fight the pervasive human tendency to enable wrongdoing in the workplace, politics, and beyond It is easy to condemn obvious wrongdoers such as Elizabeth Holmes, Harvey Weinstein, and the Sackler family. But we rarely think about the many people who supported their unethical or criminal behavior. In each case there was a supporting cast of complicitors: business partners, employees, investors, news organizations, and others. And, whether we’re aware of it or not, almost all of us have been complicit in the unethical behavior of others. In Complicit, Harvard Business School professor Max Bazerman confronts our complicity head-on and offers strategies for recognizing and avoiding the psychological and other traps that lead us to ignore, condone, or actively support wrongdoing in our businesses, organizations, communities, politics, and more. Complicit tells compelling stories of those who enabled the Theranos and WeWork scandals, the opioid crisis, the sexual abuse that led to the #MeToo movement, and the January 6th U.S. Capitol attack. The book describes seven different behavioral profiles that can lead to complicity in wrongdoing, ranging from true partners to those who unknowingly benefit from systemic privilege, including white privilege, and it tells the story of Bazerman’s own brushes with complicity. Complicit also offers concrete and detailed solutions, describing how individuals, leaders, and organizations can more effectively prevent complicity. By challenging the notion that a few bad apples are responsible for society’s ills, Complicit implicates us all—and offers a path to creating a more ethical world.

How We Enable the Unethical and How to Stop

Complicit

A NEW YORKER BEST BOOK OF 2025 • Tech platforms manipulate attention, extract wealth, and deepen inequality. In this new book, Tim Wu (The Attention Merchants) explains how we can reclaim control and create a balanced economy that works for everyone. “The magic of Tim Wu’s The Age of Extraction is its simplicity. Wu deftly breaks down one of the greatest challenges of our age—the unaccountable power of tech platforms—into such digestible pieces that the solutions for what to do become dead obvious. Essential reading.”—Karen Hao, author of Empire of AI: Dreams and Nightmares in Sam Altman’s OpenAI "It’s not just in your head—your online life is draining your wallet.... [The Age of Extraction is] a sharp and eye-opening introduction to how we arrived at platform capitalism—where no good click goes unmonetized.”—Kirkus Reviews Our world is dominated by a handful of tech platforms. They provide great conveniences and entertainment, but also stand as some of the most effective instruments of wealth extraction ever invented, seizing immense amounts of money, data, and attention from all of us.&nbsp;An economy driven by digital platforms and AI influence offers the potential to enrich us, and also threatens to marginalize entire industries, widen the wealth gap, and foster a two-class nation. As technology evolves and our markets adapt, can society cultivate a better life for everyone? Is it possible to balance economic growth and egalitarianism, or are we too far gone? Tim Wu—the preeminent scholar and former White House official who coined the phrase “net neutrality”—explores the rise of platform power and details the risks and rewards of working within such systems. The Age of Extraction tells the story of an Internet that promised widespread wealth and democracy in the 1990s and 2000s, only to create new economic classes and aid the spread of autocracy instead.&nbsp; Wu frames our current moment with lessons from recent history—from generative AI and predictive social data to the antimonopoly and crypto movements—and envisions a future where technological advances can serve the greatest possible good. Concise and hopeful, The Age of Extraction offers consequential proposals for taking back control in order to achieve a better economic balance and prosperity for all.

A NEW YORKER BEST BOOK OF 2025 • Tech platforms manipulate attention, extract wealth, and deepen inequality. In this new book, Tim Wu (The Attention Merchants) explains how we can reclaim control and create a balanced economy that works for everyone. “The magic of Tim Wu’s The Age of Extraction is its simplicity. Wu deftly breaks down one of the greatest challenges of our age—the unaccountable power of tech platforms—into such digestible pieces that the solutions for what to do become dead obvious. Essential reading.”—Karen Hao, author of Empire of AI: Dreams and Nightmares in Sam Altman’s OpenAI "It’s not just in your head—your online life is draining your wallet.... [The Age of Extraction is] a sharp and eye-opening introduction to how we arrived at platform capitalism—where no good click goes unmonetized.”—Kirkus Reviews Our world is dominated by a handful of tech platforms. They provide great conveniences and entertainment, but also stand as some of the most effective instruments of wealth extraction ever invented, seizing immense amounts of money, data, and attention from all of us.&nbsp;An economy driven by digital platforms and AI influence offers the potential to enrich us, and also threatens to marginalize entire industries, widen the wealth gap, and foster a two-class nation. As technology evolves and our markets adapt, can society cultivate a better life for everyone? Is it possible to balance economic growth and egalitarianism, or are we too far gone? Tim Wu—the preeminent scholar and former White House official who coined the phrase “net neutrality”—explores the rise of platform power and details the risks and rewards of working within such systems. The Age of Extraction tells the story of an Internet that promised widespread wealth and democracy in the 1990s and 2000s, only to create new economic classes and aid the spread of autocracy instead.&nbsp; Wu frames our current moment with lessons from recent history—from generative AI and predictive social data to the antimonopoly and crypto movements—and envisions a future where technological advances can serve the greatest possible good. Concise and hopeful, The Age of Extraction offers consequential proposals for taking back control in order to achieve a better economic balance and prosperity for all.

How Tech Platforms Conquered the Economy and Threaten Our Future Prosperity

The Age of Extraction

Contributions to Economics

This book marks the 250th anniversary of The Wealth of Nations with a fresh appraisal of Adam Smith’s ideas, legacy, and intellectual context. It examines his economic theories—division of labour, critiques of mercantilism, and early notions of comparative advantage—highlighting their originality, influence, and relevance today.
 
 Smith’s broader philosophical system is also explored, including his theory of mind, moral philosophy, and views on governance. This book situates him within the intellectual currents of his time, offering new perspectives on how his thinking was shaped and how it continues to resonate.
 
 In addition to historical analysis, this book applies Smith’s principles to modern contexts, reaffirming his relevance to contemporary debates in policy and political economy. It challenges the narrow view of Smith as solely an economist and presents him as a multidimensional thinker whose work remains vital.
 
 Intended for students and scholars, this is a rigorous and thought-provoking collection that repositions Smith as both a figure of the Enlightenment and a guide for the present.

Enduring Insights, New Challenges

Adam Smith’s Wealth of Nations After 250 Years

The definitive guide to the history of economic thought, fully revised twenty years after first publicationRoger Backhouse's definitive guide takes the story of economic thinking from the ancient world to the present day, with a brand-new chapter on the twenty-first century and updates throughout to reflect the latest scholarship.Covering topics including globalisation, inequality, financial crises and the environment, Backhouse brings his breadth of expertise and a contemporary lens to this original and insightful exploration of economics, revealing how we got to where we are today.

The definitive guide to the history of economic thought, fully revised twenty years after first publication Roger Backhouse's definitive guide takes the story of economic thinking from the ancient world to the present day, with a brand-new chapter on the twenty-first century and updates throughout to reflect the latest scholarship. Covering topics including globalisation, inequality, financial crises and the environment, Backhouse brings his breadth of expertise and a contemporary lens to this original and insightful exploration of economics, revealing how we got to where we are today.

New and Revised

The Penguin History of Economics

The Wealth of Nations

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