Adam Smith on new pound

The Wealth of Nations

In March, the Bank of England will issue a new 20 pound note featuring Adam Smith and the pin factory.

(Click to Enlarge)

The Pin Factory is Smith's wonderful passage about the importance of the "division of labor" whereby, you who need a pin, would likely spend the better part of a year mining, smelting and fabricating a simple pin.

Yet by the "division of labor," pins are quite available in wide varieties and at the most modest of costs.

Hooray for the Brits! The 20-pound note is the most common, according to Bank of England.

The Wealth of Nations will indeed be well advertised beginning in March '07.

Also, see http://www.adamsmith.org/ for a look at the new statue of the man who "Discovered the Moral Superiority of Capitalism" to be sited in Edinburgh. (Word has it that the Queen may do the honors of unveiling the statue later this year.)

Finally, Big Rattler is reading P.J. O'Rourke's latest book about Adam Smith's work. I say "his work" because of P.J.'s point that during Smith's time (American Revolution Era), people's work was debated, unlike today where many cackle about Britney Spears and Anna Nicole Smith's latest foibles.

Refresh yourself from mob of chatter'ers ... become a rattler ... and buy P.J.'s book. You will be surprised at how you actually have to focus to understand ... instead of just "feel."

Snapping,
Big Rattler