BC CULTURE
Saved by @jay_millerjay

Today we start the last book of #AdamSmith's #WealthOfNations.

Allons-y!

#WealthOfTweets #SmithTweets

 Book Five of #WealthOfNations is all about the duties of the sovereign and how to pay for them. In this first part of chapter 1, we’re talking about the cost of defense. (V.i.a) #WealthOfTweets #SmithTweets
The sovereign's duty to protect the country can only be done through military force, but how you get the money to pay for that military varies according to time, place, and circumstance. (V.i.a.1) #WealthOfTweets #SmithTweets
In a hunter/gatherer society, everyone is always already a warrior, and since there isn’t really a sovereign or nation, no expense is required to maintain defense. Much the same is true of shepherding cultures. (V.i.a.2) #WealthOfTweets #SmithTweets
Armies of hunters are limited in size to a few hundred men (as they have to sustain themselves through the available game). Shepherds can muster larger forces because they bring their sustenance in the form of flocks. (V.i.a.3–5) #WealthOfTweets #SmithTweets
#AdamSmith thinks wars among Indigenous American populations are contemptible because they’re small, but large invading cultures like the Tartars are impressive & dreadful.
We SmithTweeters boldly support smaller & fewer wars. (V.i.a.5) #WealthOfTweets #SmithTweets
Farmers are also prepared for soldiering as a result of their daily labor. If the fighting can happen after planting and before harvest, farmers can usually afford to join the fight. So a farming culture is also fairly inexpensive to defend. (V.i.a.7) #WealthOfTweets #SmithTweets
Once you move away from these forms of society, though, the increasing sophistication of manufactures and war make it impossible for professional soldiers to support themselves. (V.i.a.8) #WealthOfTweets #SmithTweets
Leave your fields for a bit? Crops keep growing.
Leave your loom? There's no loom-fairy to do your weaving. With no weaving, you don’t make money.
(We know there's no field-fairy, work with us.)
If you want soldiers, you have to pay them. (V.i.a.9) #WealthOfTweets #SmithTweets
Plus, wars are way longer now. Extended campaigns instead of stand-alone skirmishes mean there’s really no way for soldiers to maintain another trade.
The more developed a society, the fewer inhabitants are willing or able to go to war. (V.i.a.10–11) #WealthOfTweets #SmithTweets
In the ancient world, learning to be a soldier was a standard part of becoming educated. But as the art of war becomes more sophisticated, it becomes a specialty. (V.i.a.12–15) #WealthOfTweets #SmithTweets
(We, the SmithTweeters, never quite know what to make of Smith’s claim that war is “certainly the noblest of all arts.” Does he mean it? Is he being ironic? Is he questioning what it means for something to be “noble?”) (V.i.a.14) #WealthOfTweets #SmithTweets
When soldiering becomes a specialty the government can either force people to learn how to be soldiers or treat soldiering as a profession.
The first gives you a militia, the second, a standing army. (V.i.a.16–19) #WealthOfTweets #SmithTweets
The invention of firearms means that the fitness and skill level of individual soldiers is no longer as important. Instead of skill, you need regularity, order, and obedience in your soldiers. (V.i.a.20-21) #WealthOfTweets #SmithTweets
Smith notes, with confidence that a militia is always going to be inferior to a well-disciplined and well-exercised standing army.
*American SmithTweeting contingent whistles Yankee Doodle in upstart colonial*
(V.i.a.23–25) #WealthOfTweets #SmithTweets
Oh, okay. The colonials get some props from Smith a little later. If the war with Britain drags out long enough they may become a match for the standing army. (V.i.a.27–28) #WealthOfTweets #SmithTweets
That said, standing armies are just irresistibly superior unless militias are engaged in such long campaigns that they equalize. (V.i.a.27–28) #WealthOfTweets #SmithTweets
And now...a brief history of standing armies.

There were a lot of them. (V.i.a.29–38) #WealthOfTweets #SmithTweets
When one nation develops a standing army, other nations must follow suit for their own protection. (V.i.a.37) #WealthOfTweets #SmithTweets
Oh, hey, here’s that “savage nations” thread. Just in case that's something you might be thinking about right now as Smith carefully explains that only standing armies can protect against barbarian invasions... (V.i.a.39–40) #WealthOfTweets #SmithTweets

https://t.co/40ylHzfS6v
...And equally carefully explains that you need a standing army in order to civilize barbarians and establish the law of the sovereign with “irresistible force.” (V.i.a.40) #WealthOfTweets #SmithTweets
Lots of people argue that standing armies are dangerous to liberty. That can be true. But if the king is the general, the nobility are the chief officers, and the commanders support the civil authority, a standing army isn’t a threat. (V.i.a.41) #WealthOfTweets #SmithTweets
(Does anyone else think that’s a whole pile of conditions that need to be met before a standing army isn’t a concern? Especially given the references to Caesar and Cromwell? Maybe it’s just us…) (V.i.a.41) #WealthOfTweets #SmithTweets
On the other hand, says Smith, a standing army can give a sovereign a sense of security that means he doesn’t have to crack down as hard on the people as he would otherwise.
So, weirdly, a standing army can→more liberty. (V.i.a.41) #WealthOfTweets #SmithTweets
The duty of maintaining national defense gets more expensive as society becomes wealthier and war becomes more complicated. Cannons cost more than javelins. (V.i.a.43) #WealthOfTweets #SmithTweets
This means that, unlike in ancient times, it’s now easier for developed and wealthy nations to defend themselves. That’s good, Smith says, for preserving and extending civilization. (V.i.a.44) #WealthOfTweets #SmithTweets
(We, the SmithTweeters, are not military historians. But we’re pretty sure that a lot of what Smith says here doesn’t hold up throughout the 20th century... Anyone want to help us out with that before we come back tomorrow to talk about justice?) #WealthOfTweets #SmithTweets

More from @AdamSmithWorks

@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Happy New Year! On Monday, we start tweeting about #AdamSmith 's whole #WealthOfNations at the rate of about a chapter a day! Don’t miss it! #WealthOfTweets #SmithTweets

Today, we’re looking at “The Introduction and Plan of the Work” because although it is New Year’s Day, we, the SmithTweeters, are still Very Serious Smith Scholars. #WealthOfTweets #SmithTweets

TFW you start reading “The Introduction and Plan of the Work” and realize that elevator speeches were invented before elevators. #WealthOfTweets #SmithTweets

How hard people work &how many are working is more important to national wealth than resources &climate. So much for Montesquieu et al saying climate determines levels of industriousness or laziness. (Int. 3) #WealthOfTweets #SmithTweets

We swear we’re going to come back to Smith and this “savage nations” phrase he keeps dropping. We just can’t do it on January 1st. (Int. 4) #WealthOfTweets #SmithTweets
SOCIETY
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
We have to pause now, because we have to have a whole new tweet thread on #AdamSmith and “savage nations,” because he’s going to keep using this kind of phrase, so we need to talk about it. #WealthOfTweets #SmithTweets

Please know that your friendly SmithTweeters give heavy side-eye to Smith’s use of phrases like “savage nations” and “naked savages” and so on. They are obviously shocking to the modern ear, and they should be. #WealthOfTweets #SmithTweets

“Well, it’s the 18th century, what do you expect?” just isn't a sufficient explanation. #WealthOfTweets #SmithTweets

The 21stC changed from talking about the First World/Third World to talking about developed/developing nations. That’s a good change and a respectful one. The terms we use for countries will continue to change. See:

Probably the best way to think about Smith’s use of the term “savage nations” is to think of it as its own developmental stage on its way to a better set of terms for talking about the differences among nations. https://t.co/2wr7yACEv5 #WealthOfTweets #SmithTweets
FOR LATER READ
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@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
OK! Who's ready to talk at great length and in great detail about prices? #AdamSmith, that's who! (I.v) #BuckleUp because this is the first of three chapters Smith prepped us for yesterday. (I.v) #WealthOfTweets #SmithTweets

We're about get into some #LaborTheoryOfValue. (I.v.1–18) We, the SmithTweeters, are firmly on board with the #MarginalRevolution (and we are fans of @MarginalRevolt). But Smith's theory is more complex than is often recognized. #WealthOfTweets #SmithTweets #ValueHowDoesItWork

The caricature version of the #LaborTheoryOfValue is that the longer you work on a thing, the more it must be worth. This is obviously wrong, and Smith (and Marx, btw) would agree that it's wrong. (I.v.1–18) #WealthOfTweets #SmithTweets

(We know this version of the #LaborTheoryOfValue is wrong because we once carved a giant statue of #AdamSmith out of haggis. Took us hours. No one wanted to buy it. Go know!)

Again: We think the #LaborTheoryOfValue as it's actually presented is wrong, too, but we should at least understand how it's wrong and where it's right. (I.v.1–18) #WealthOfTweets #SmithTweets
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@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today, in #WealthOfTweets, more rude produce, #AdamSmith's opinions about Scottish Cheese, and, to be perfectly honest, an irresponsible amount of poop. #WealthOfTweets #SmithTweets

The second kind of rude produce is the kind humans can produce more of in response to demand. This includes stuff like sheep, 🐄🐄, and fruits & veg that farm well.(I.xi.l.1) #WealthOfTweets #SmithTweets

We don’t bother to cultivate this stuff until we reach a certain level of wealth because it reproduces well on its own. But as we get wealthier, we want more stuff and can pay for it, so it’s profitable to herd and farm these things. (I.xi.l.1) #WealthOfTweets #SmithTweets

But unlike the wild and rare stuff, there’s a limit on the price of this kind of produce, because when the price goes higher, we make more of it, which brings the price back down.(I.xi.l.1) #WealthOfTweets #SmithTweets

(We also find more profitable uses for, say, the wild grazing land, crowd the sheep out, and then *need* to cultivate them.) (I.xi.l.2) #WealthOfTweets #SmithTweet
FOR LATER READ
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today we're gonna talk about profits. They come from stock! #AdamSmith reminds us that stock is any resource paid for in advance when doing business. In general, profits and wages don't move together. (I.ix.1–2) #WealthOfTweets #SmithTweets

As stock goes up, there's more of it to employ more workers (by paying them or providing machines for them to work or both). This raises wages! But new stock competes with existing stock, which tends to lower profit. (I.ix.2) #WealthOfTweets #SmithTweets

If you thought figuring out the average wages of labor was complicated, don't even think about trying to figure out the average profit of stock. Basically impossible. Luckily, the rate of interest tends to vary with the profits of stock. (I.ix.3–4) #WealthOfTweets #SmithTweets

Lots of laws have tried to control interest rates and stop usury. They've all failed to do either. (I.ix.5–9) #WealthOfTweets #SmithTweets

Profits and wages rising together is unusual, but it happens. In particular, in new colonies. (I.ix.11) #WealthOfTweets #SmithTweets
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This feeds into the ignorant anti-Black American stereotype of “Black Americans don’t have any culture/history/mythology” or whatever. That our stories are still both being used while simultaneously erased in 2018 is wild to me. It’s gonna clean up come award season. 🤦🏾‍♀️

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The Final Destination (also known as Final Destination 4) is a 2009 3-D supernatural horror film written by Eric Bress and directed by David R. Ellis, both of whom also worked on Final Destination 2.


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मुंबईतील प्रसिद्ध किताबखाना ला लागलेली आग आपल्या सर्वांच्या मनाला चटका लावणारी होती. त्या आगीत सुमारे 95 लाख किमतीच्या 45,000 पुस्तकांचं नुकसान झालं. एकूण नुकसान दोन कोटींच्या घरात गेलं. तरीही किताबखाना पुन्हा सुरू करण्याचं स्वप्न आहे समीर आणि अमृता सोमैया यांचं.
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त्यांनीच दहा वर्षांपूर्वी मुंबईत ही सुंदर स्पेस तयार केली.त्यांच्या जगप्रवासात विविध पुस्तकांनी त्यांना वेड लावलं.अशी एक कम्युनिटी स्पेस मुंबईतही करायची,या ध्येयाने त्यांनी किताबखानाची निर्मिती केली.अमृताचे वडील प्रसिद्ध आर्किटेक्ट जगदीश मिस्त्री यांनी किताबखाना डिझाईन केला होता.

लाईव इवेंट्स, पुस्तक वाचन, काला घोडा फेस्ट्वलचे कार्यक्रम, उत्तमोत्तम पुस्तकं, लहान मुलांसाठीचा पुस्तकांचा स्वतंत्र विभाग ही किताबखानाची सर्व खासियत कायम राहणार आहे.
सध्या तिथे रिस्टोरेशनचं काम सुरू आहे. समीर आणि अमृता यांची मी घेतलेली मुलाखत आणि बातमी शेअर करत आहे.

दोन मार्चला किताबखाना वाचकांसाठी पुन्हा सुरू करायचा समीर आणि अमृता सोमैया यांचा प्रयत्न आहे. किताबखाना कॅफे आता इनहाऊस चालवला जाईल. @JairajSinghR @KitabKhanaBooks @UpadhyayaP12

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Sthala Puranam says that, Sukabrahma Maharishi had been doing Tapasya here, for the darshan of Sri Rama. Prabhu Shri Ram, pleased with his tapasya, came here after Rama Ravana yudham. Since Rama was returning


after the war, he did not have any weapons with him.

Another gopuram called Kili Gopuram is there for Sukabrahma Maharishi. There is a hill nearby called Dheergachala. According to Sthala puranam, Sri Padham of Prabhu Rama are found on the top of the hill


It is said that this is the place where Shri Rama gave darshan to Suka Maharishi. Nedumgunam means which shows all qualities of Shri Rama who is Maryadha purushottam. Shri Ramanavami is very famous here.

Jai Sri Ram
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Lakshminarayan G
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The Chanting of following names of Bhagwan Vishnu, immensely helps us in overcoming the obstacles in our daily life.
These names are from Sri Vishnu Sahasranama!
|. "Om Vashatkaaraaya Namaha" : For Success in Business.
||. "Om Aksharaaya Namaha" : For Success in Studies.


|||. "Om Bhuthabhavanaya Namaha" : For Good Health.
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Src: VAK magazine from Chilkur Balaji Temple, Hyderabad - Sri @csranga
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One needs to chant the following slokas 28 times to get rid of certain problems in life.
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Om Vashatkaaraya Namah - For Success in Business, Interviews, visa interviews, building relationships


Om Srimate Namah - For Handsome appearance & wealth
Om Aksharaya Namah - For Education & better financial strength
Om Paramatmane Namah - For self employed people, for promotions and success in games.
Om Putatmane Namah - To remove mental stress & for mental peace


Om Sarmane Namah - For Job Satisfaction
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🙏Like & RT to spread learning with all 🙏

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Return on Equity (#ROE) and Return on Capital Employed (#ROCE) are two important Financial Ratios used in #FundamentalAnalysis of Stocks.

#StockMarket #Investing

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Return on Equity (ROE) is the ratio of Net Income (Net Profit) of a company and it’s Total Equity (Shareholder's Equity).

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An irony of facebook's situation.

Sheryl got her MBA at Harvard. One of the most famous cases (Extra Strength Tylenol) in one of the most famous classes (Business History) she took: in 1982, someone put cyanide in Extra Strength Tylenol capsules and killed 7 people in Chicago.

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Burke (CEO) tapped J&Js goodwill bank account w/ the public. Two big withdrawals from that bank account in four years + 8 dead bodies! But his honesty, openness, humanity (choked up about the deaths more than once), humility kept the goodwill bank balance positive the whole time.
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