The wealth of nations, Adam Smith believed, would result from free economy. It is for that reason that he is considered today the founding father of classic liberal economic theory. Adam Smith explained the mechanism of free market. Since that time this theory has been the ABC of economic education. Everyone who is familiar with economics has heard about the invisible hand of the market. “Three conditions are required,” Adam Smith wrote, “to raise the state from barbarity to the highest degree of prosperity: first, peace inwards and outwards, second, tolerance in ruling the state, and, third, reasonable taxation. The natural order of things will do all the rest.” Here is one more indisputable idea by him: “Great nations never get poor due to wastefulness and carelessness of individuals, yet they often get poor due to the wastefulness and carelessness of state power.”
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Information provided by the Scientific Russia News Agency. Media outlet’s registration certificate: IA No. FS77-62580 issued by the Federal Service for Supervision of Communications, Information Technology and Mass Media on July 31, 2015.
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How did Peter the Great, trying to introduce Russians to European culture, lay the foundations for the celebration of the New Year? When and how did the tradition of decorating homes with Christmas trees and lights appear?
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