An Analysis of Adam Smith's the Wealth of Nations

Name: An Analysis of Adam Smith's the Wealth of Nations
Brand: Macat Library
SKU: 9781912302314
Price: 1660.0 INR
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by Collins John

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ISBN13: 9781912302314
Binding: Hardcover
Subject: N/A
Publisher: Macat Library
Publisher Imprint: Macat Library
Publication Date: July 15, 2017
Pages: 96
Original Price: GBP 19.99
Language: English
Edition: N/A
Item Weight: 182 grams
BISAC Subject(s): Economics / General

About The Book

Adam Smith's 1776 Inquiry into The Nature and Causes of the Wealth of Nations - more often known simply as The Wealth of Nations - is one of the most important books in modern intellectual history.

Considered one of the fundamental works of classical economics, it is also a prime example of the enduring power of good reasoning, and the ability of reasoning to drive critical thinking forward. Adam Smith was attempting to answer two complex questions: where does a nation's wealth come from, and what can governments do to increase it most efficiently? At the time, perhaps the most widely accepted theory, mercantilism, argued that a nation's wealth was literally the amount of gold and silver it held in reserve. Smith, meanwhile, weighed the evidence and came to a different conclusion: a nation's wealth, he argued, lay in its ability to encourage economic activity, largely without government interference.

Underlying this radical redefinition was the revolutionary concept that powered Smith's reasoning and which continues to exert a vast influence on economic thought: the idea that markets are self-regulating. Pitting his arguments against those of his predecessors, Smith carefully and persuasively reasoned out a strong case for free markets that reshaped government economic policies in the 19th-century and continues to shape global prosperity today.

About The Author

Dr John Collins is a member of the faculty at the London School of Economics, where he is currently Executive Director of the LSE IDEAS International Drug Policy Project.

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