1.1 Introduction to economics

Excerpts
From An Inquiry into the Nature and Causes of the Wealth of Nations, Book IV, Chap. 2 by . London: Methuen and Co., Ltd., 1904. Edwin Cannan, ed. First published 1776.

But the annual revenue of every society is always precisely equal to the exchangeable value of the whole annual produce of its industry, or rather is precisely the same thing with that exchangeable value.
As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value; every individual necessarily labours to render the annual revenue of the society as great as he can.

He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it.
By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.
Nor is it always the worse for the society that it was no part of it.
By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.

I have never known much good done by those who affected to trade for the public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it. [Par. IV.2.9]

社会的年收入，总是等于全部年产物的交换价值，甚至可以说，它们其实是同一个东西。
所以，当商人们都尽力将其资本投在国内产业上，并通过细心管理来使生产物达到最高的交换价值时，社会的年收入自然会随之增加。

商人们的初衷，的确不是增加公共利益。所以，就连他自己在客观上增加了公共利益，他也不知道。
他所考虑的，只是自己的安全，所以他宁愿将资本投在国内产业上，也不支持国外产业。
还是出于自身利益的考虑，他采取了可能使其生产物达到最高交换价值的管理方式。
他在自身利益这只看不见的手的指导之下，为达到一个并非他本意想要达到的目的而努力着。
不过，虽然商人的行为不是出于本意，但也不能因此就说这一行为对社会有害。虽然商人的本意是追求自身利益，
但他在追求自身利益的过程中，却为社会带来了更多的利益。

有些人虽说是为公众幸福才从事商业的，但我从未听说他们做了什么好事。
幸好这种装腔作势的商人并不多见，所以我们也用不着理会他们。

“An economist is a man who states the obvious in terms of the incomprehensible.”

“An economist is an expert know will know tomorrow why the things
he predicted yesterday didn’t happen today.”