/lit/ - Literature

>>18623463
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Adam Smith

- Notable ideas and contributions:

Free market
>Self-interested competition in the free market, he argued, would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services. Nevertheless, he was wary of businessmen and warned of their "conspiracy against the public or in some other contrivance to raise prices"
Division of labour
>Adam Smith foresaw the essence of industrialism by determining that division of labour represents a substantial increase in productivity.
Absolute advantage
>He described the principle of absolute advantage in the context of international trade in 1776, using labor as the only input. Since absolute advantage is determined by a simple comparison of labor productiveness, it is possible for a party to have no absolute advantage in anything.
The Invisible Hand
>This metaphor shows Smith's belief that when an individual pursues his self-interest under conditions of justice, he unintentionally promotes the good of society.

- Notable works: The Wealth of Nations; The Theory of Moral Sentiments

I'm currently studying econ but being failing a lot because the business ontology is inmensely depressing. For a degree I have to learn models that make absolutely no sense in the real world and I fucking refuse to do so. Lately, the political events in my country just confirmed all those pretentious wannabe mathematicians were actually playing minecraft all this time so there's no way back for me.

What's the ultimate chart for actual economics? Math is more than welcome, I just want to avoid retarded flexing that only works in thought experiments.