The Wealth of Nations

The Wealth of Nations

Books I-III

Book - 1986
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'It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.' With this landmark treatise on political economy, Adam Smith paved the way for modern capitalism, arguing that a truly free market - fired by competition yet guided as if by an 'invisible hand' to ensure justice and equality - was the engine of a fair and productive society. Books I-III of The Wealth of Nations examine the 'division of labour' as the key to economic growth, by ensuring the interdependence of individuals within society. They also cover the origins of money and the importance of wages, profit, rent and stocks. Smith's work laid the foundations of economic theory in general and 'classical' economics in particular, but the real sophistication of his analysis derives from the fact that it also encompasses a combination of ethics, philosophy and history to create a vast panorama of society.
Publisher: Penguin Books, c1986.
ISBN: 9780140432084
0140432086
9780679783367
Call Number: 330 SMITH
Characteristics: p.
Subjects: Economics.
Classical school of economics.

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dendem4 Apr 20, 2016

It's a primary source, what can I say. Makes a lot more sense than Das Kapital.

r
rpavlacic
Jan 24, 2016

The famous money quote about the "invisible hand" does not appear well into the book (Book IV, chapter 2) and it does not deal so much with free enterprise as is commonly thought, but the tendency of people to choose domestic products over foreign ones when purchasing something. That being said, this is indeed one of the all time classic books and it should be mandatory reading for anyone who handles money, for it offers an understanding not just the division of labour and how markets work, but the relationship between richer and poorer countries, and even well off nations between each other. I have a feeling if Wall Street had actually heeded its sage advice, the 2008 meltdown may well have been avoided. If you think you know how economics should work, you may be in for a surprise. But you won't be reading this in one sitting.

s
stewstealth
Jun 05, 2014

Considering it's age the book is still very relevant. It's amazing that this and Origin of the Species by Darwin written about 100 years after are still ignored and overlooked by so many of the populace. A greater and more equal society is to be had if we can remove the crony from true Capitalism. A book everyone should read if you consider yourself knowledgeable or informed.

pintoabe Sep 22, 2013

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. Through reflection over the economics at the beginning of the Industrial Revolution the book touches upon broad topics as the division of labor, productivity and free markets
--Wikipedia

This book is one of the earliest books written on capitalism. It explains how capitalism is the most productive system and is often referred to as the "bible of capitalism". It is a MUST READ for ALL AMERICANS!! (Unless you do not plan on working or voting)
Ps: I would not recomend this book for children under 8th grade (it is a bit difficult)

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