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Apr 4, 2024 · The Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy. Adam Smith. Statue of Adam Smith, near the cathedral of St. Giles, Edinburgh.
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 (1723–1790).
- 9 March 1776
- Adam Smith
- W. Strahan and T. Cadell, London
Dec 1, 2023 · Definition. Adam Smith (1723-1790) was a Scottish philosopher, economist, and leading Enlightenment figure. In The Wealth of Nations, he advocates free trade and limited interference in markets by governments, for which he is seen as the founder of liberal economics. Regarded incorrectly as a champion of laissez-faire economics, Smith supported ...
- Mark Cartwright
Apr 9, 2024 · Learn about the book that introduced the concept of the invisible hand and the benefits of free markets. Find out how Smith argued for self-interest, division of labor, and limited government as the keys to prosperity.
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The first theme in The Wealth of Nations is that regulations on commerce are ill-founded and counter-productive. The prevailing view was that gold and silver was wealth, and that countries should boost exports and resist imports in order to maximize this metal wealth. Smith’s radical insight was that a nation’s wealth is really the stream ...