A Masterpiece of Economic Analysis Firstly Published in 1776 by Adam Smith-The Wealth of Nations
An American statistic shows that, due to its significant global impact, "The Wealth of Nations by Adam Smith" was the most important document published in 1776.This book, long considered to be the magnum opus of the Scottish philosopher and economist Adam Smith, offers a deep analysis into the causes and nature of the wealth of nations.
Though first published in 1776, many of Adam Smith's arguments for raising living standards are still relevant today. More than that, they form the fundamental basis for classical economic theory.
By reflecting upon the economics at the beginning of the industrial revolution, the book treats broad topics such as the division of labor, division of stock, the progress of opulence, and more.
In the early days, economics was about the king's interests, and the wealth of a nation was measured by the king's treasury or by the gold and silver in the country.
However, Smith believed that if everyone did what was best for themselves, the result would be best for society.
The Wealth of Nations provides the first and most eloquent integrated description of the workings of a market economy.
This Unabridged Edition offers the modern reader a fresh look at A Timeless And Seminal Work That Revolutionized the way governments and individuals view the creation and dispersion of wealth.
Here is a bit of what you will discover in this blueprint.
- The principle leading to the division of labor.
- The origin and use of money.
- The Real and Nominal Price of Commodities.
- Money as a Branch of the General Stock of Society.
- The Accumulation of Capital.
- How City Commerce Improves the Country.
And much more!
This "The Wealth of Nations" edition is a blueprint that everyone should have on their shelf.
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Adam Smith (1723-1790) was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. It earned him an enormous reputation and would become one of the most influential works on economics ever published. Smith is widely cited as the father of modern economics and capitalism. Smith studied social philosophy at the University of Glasgow and the University of Oxford. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. Smith returned home and spent the next ten years writing The Wealth of Nations, publishing it in 1776. He died in 1790.
