The Wealth of Nations and Essay on Population

Chapter 1 of Smith’s famous text argued that specialization is key to economic growth. He explained how making each man a master of his particular trade makes production faster and leads to further innovation; a cycle of rapid growth then ensues. This growth spreads more wealth over more people, narrowing the gap between princes and peasants. Malthus, in his First Essay on Population, debunked Godwin’s argument that a more egalitarian society and economics will end poverty.… Read the rest here