Other editions of book The Wealth of Nations

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets. In it Smith analyzes the major elements of political economy, from market pricing and the division of labour to monetary, tax, trade and other government policies that affect economic behaviour. Throughout he offers seminal arguments for free trade, free markets and limited government. Criticizing mercantilists who sought to use the state to increase their nations' supply of precious metals, Smith points out that a nation's wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man's social instincts, which government may encourage by upholding social standards of decency, honesty and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange. Social and economic order arises from the natural desires to better one's lot and to gain the praise and avoid the censure of one's neighbours and business associates. Individuals behave decently and honestly because it gives them a clear conscience as well as the good reputation necessary for public approbation and sustained, profitable business relations.

The Wealth of Nations An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. An important theme that persists throughout the work is the idea that the economic system is automatic, and, when left with substantial freedom, able to regulate itself. This is often referred to as the “invisible hand.” The ability to self-regulate and to ensure maximum efficiency, however, is threatened by monopolies, tax preferences, lobbying groups, and other “privileges” extended to certain members of the economy at the expense of others.

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets.

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets. In it Smith analyzes the major elements of political economy, from market pricing and the division of labour to monetary, tax, trade and other government policies that affect economic behaviour. Throughout he offers seminal arguments for free trade, free markets and limited government.

Adam Smith's masterpiece, first published in 1776, is the foundation of modern economic thought and remains the single most important account of the rise of, and the principles behind, modern capitalism. Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society.An Inquiry into the Nature and Causes of the Wealth of Nations is one of the best book written by Adam Smith.

The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words. Smith details his argument in five books: Book I. Of the Causes of Improvement in the Productive Power of Labour Book II. Of the Nature, Accumulation, and Employment of Stock Introduction Book III. Of the Different Progress of Opulence in Different Nations Book IV. Of Systems of Political Economy Book V. Of the Revenue of the Sovereign or Commonwealth Taken together, these books form a giant leap forward in the field of economics. A product of the "Age of Enlightenment," The Wealth of Nations is a must for all who wish to gain a better understanding of the principles upon which all modern capitalistic economies have been founded and the process of wealth creation that is engendered by those principles.