An inquiry into the nature and causes of the wealth of nations (2 volumes)
by Adam Smith
First published in 1776, the year in which the American Revolution officially began, Smith’s Wealth of Nations sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
ECONOMICS_HISTORY
RELEASED1981
PUBLISHERLiberty Fund
LENGTH1094
LANGUAGEEN
Adam Smith (16 June 1723 – 17 July 1790) was aScottish social philosopher and a pioneer of political economy. Smith is best known for two classic works, *The Theory of Moral Sentiments* (1759) and *An Inquiry into the Nature and Causes of the Wealth of Nations* (1776). The latter, usually abbreviated as *The Wealth of Nations*, is considered his magnum opus and the first modern work of economics. **Source**: [Adam Smith](https://en.wikipedia.org/wiki/Adam_Smith) on Wikipedia.
An inquiry into the nature and causes of the wealth of nations (2 volumes)
by Adam Smith
First published in 1776, the year in which the American Revolution officially began, Smith’s Wealth of Nations sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
ECONOMICS_HISTORY
RELEASED1981
PUBLISHERLiberty Fund
LENGTH1094
LANGUAGEEN
Adam Smith (16 June 1723 – 17 July 1790) was aScottish social philosopher and a pioneer of political economy. Smith is best known for two classic works, *The Theory of Moral Sentiments* (1759) and *An Inquiry into the Nature and Causes of the Wealth of Nations* (1776). The latter, usually abbreviated as *The Wealth of Nations*, is considered his magnum opus and the first modern work of economics. **Source**: [Adam Smith](https://en.wikipedia.org/wiki/Adam_Smith) on Wikipedia.
