“It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.”
Quote by Adam Smith
Work
An inquiry into the nature and causes of the wealth of nations
This classic text delves into the principles of economics, analyzing the production, distribution, and consumption of goods and services, and their impact on economic growth and societal welfare. more
Author
Adam Smith
Adam Smith, a renowned philosopher and economist from Britain, was born on June 5, 1723, and died on July 17, 1790. Known as the father of modern economics, his work 'The Wealth of Nations' had a profound impact on the development of economics. more
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