Northern Dragon

1776 the Scottish economist and philosopher, Adam Smith, released his
magnum opus, “The Wealth of Nations” and laid the foundation for
classical economic theory – and modern Capitalism.

The world at that time was significantly simpler in many ways than
it is today, and our knowledge of economics, sociology, and politics
has advanced considerably since then. But underneath all of our
modern-day complexity, the economic foundation is the same:
Capitalism – private ownership of the means of production and their
operation for profit.

As an economic system, it has served us very well. In the last
couple of centuries, our industrialised societies have developed at a
totally unprecedented speed, both economically and technologically.
And the enormous wealth generated is mainly attributed to Capitalism.
It can come as no surprise then, that Capitalism is often viewed as a
universal panacea for all the ills of society, and as an ideal…

View original post 595 more words

Published by

suburban tracks

I like travelling through the diverse realities and cultures of this world not only as a tourist. Nature, history of ancient sites or creative works are fascinating me however also abandoned places or ordinary things can be just magical and amazing. The multiple aspects and rich diversity of our blue planet need to be however nourished and protected. Please be so kind to respect that all texts, graphics or photos in this blog are protected by copyright. Unless otherwise mentioned by naming the individuali author, creator, designer or photographer all copyrights hold by suburban tracks. This is moreover an AWARD FREE BLOG! Thank you in advance for appreciation and kind understanding. COMMENTS ARE WELCOMED IN GERMAN, FRENCH OR ENGLISH!