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First published in 1776, The Wealth of Nations is generally regarded as the foundation of contemporary economic thought. Adam Smith, a Scottish professor of moral philosophy, expounded the then-revolutionary doctrine of economic liberalism. The book's importance was immediately recognized by Smith's peers, and later economists have shown an unusual consensus in their admiration for his ideas. Combining economics, political theory, history, philosophy, and practical programs, Smith assumes that human self-interest is the basic psychological drive behind economics and that a natural order in the universe makes all the individual, self-interested strivings add up to the social good. His conclusion, that the best program is to leave the economic process alone and that government is useful only as an agent to preserve order and to perform routine functions, is now known as laissez-faire economics or noninterventionism. In noting for the first time the significance of the division of labor and by stating the hypothesis that a commodity's value correlates to its labor input, Smith anticipated the writings of Karl Marx. Like Marx's Das Capital and Machiavelli's The Prince, his great book marked the dawning of a new historical epoch.
First published in 1776, Smith's primer provided the first description of the workings of a market economy. This unabridged edition offers the modern reader a fresh look at a timeless work that revolutionized the way the creation and dispersion of wealth are viewed. The Wealth of Nations by Adam Smi
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 description
Best known for his revolutionary free-market economics treatise The Wealth of Nations, Adam Smith was first and foremost a moral philosopher. In his first book, The Theory of Moral Sentiments, he investigated the flip side of economic self-interest: the interest of the greater good. Smith's classic
The foundation for a general system of morals, this 1749 work is a landmark in the history of moral and political thought. Readers familiar with Adam Smith from The Wealth of Nations will find this earlier book a revelation. Although the author is often misrepresented as a calculating rationalist wh
