What I learned from Book I of The Wealth of Nations

Following up on my previous post, I want to share three timeless ideas that I learned from Book 1 of Adam Smith’s The Wealth of Nations as well as three open questions that I have for my fellow Smith scholars: The key to economic prosperity (and to the production of knowledge) is the division of labor. Question: What effect will A.I. models have on the division of labor? Economic growth > economic equality. Question: What effect will A.I. models have on economic growth? Beware government regulation, which often has the effect of erecting barriers to entry, and beware the merchants, who are constantly lobbying the government to erect these stifling barriers. Question: Should the government regulate A.I. companies, and if so, how?