Wealth of Nations

Adam Smith's masterpiece, first published in 1776, is the foundation of modern economic thought and remains the single most important account of the rise of, and the principles behind, modern capitalism. Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's new Introduction for this edition both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."From the Trade Paperback edition.

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IThe Wealth of Nations by Adam Smith It is symbolic that Adam Smith’s masterpiece of economic analysis, The Wealth of Nations, was first published in 1776, the same year as the Declaration of Independence. In his book, Smith fervently extolled the simple yet enlightened notion that individuals are fully capable of setting and regulating prices for their own goods and services. He argued passionately in favor of free trade, yet stood up for the little guy. The Wealth of Nations provided the first--and still the most eloquent--integrated description of the workings of a market economy. The result of Smith’s efforts is a witty, highly readable work of genius filled with prescient theories that form the basis of a thriving capitalist system. 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--and that continues to influence our economy right up to the present day.

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In the final two books of his great work, The Wealth of Nations, Adam Smith elaborates his views on some of the key economic issues of his - and our own - times. It is here that Smith (1723-90) offers his considered response to the French Physiocrats, perhaps the first great school of economic theorists. It is also here that he assesses the nature of the mercantile system, and particularly the colonial relationship with America, whose achievements could have been even more spectacular in conditions of free trade and perhaps economic union. Even on the eve of the Declaration of Independence, Smith famously predicted that America 'will be one of the foremost nations of the world'. And it is here that he develops the case for a limited state role in economic planning, notably to combat market failure and induce efficiency in areas such as education, public works, justice and defence. His pioneering analysis still provides many subtle and penetrating insights into one of today's most vital and controversial policy debates.

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One of the great classics of economics, this influential work by the noted eighteenth-century philosopher and political economist was the first systematic formulation of classical English economics. Adam Smith's name is popularly associated with his belief that self-interest would operate to bring about the healthiest economic conditions for all, i.e. a laissez-faire system, based on an absolutely free economy. This work is not only marvelously rich in information about earlier historical periods and acute in its observation of the contemporary scene, it is also a great work of political philosophy. In it, Smith emphasizes that labor is the only source of wealth, and that its accumulation is the result of every individual's effort to improve his situation in life. In tracing the means by which the power of labor may be rendered most effective, he eventually shows that wealth does not consist of an abundance of gold and silver but in the conveniences and enjoyments of life. The first great survey of economic life in all its interdependence, this book is recognized as the framework for the development of political economy as a separate discipline. This new Dover edition will be the lowest-priced edition now available. Abridged republication of a standard edition.

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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.

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Adam Smith's masterpiece, first published in 1776, is the foundation of modern economic thought and remains the single most important account of the rise of, and the principles behind, modern capitalism. Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's new Introduction for this edition both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics." From the Trade Paperback edition.

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Smith offers his considered response to the French Physiocrats and assesses the nature of the mercantile system.

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No book has done more to instruct, enlighten, and inform conservatives about economics than Adam Smith's undisputed classic.

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The Wealth of Nations is a treasured classic of political economy. First published in March of 1776, Adam Smith wrote the book to influence a special audience - the British Parliament - and its arguments in the early spring of that year pressed for peace and cooperation with Britain's colonies rather than war. Smith's message was that economic exploitation, through the monopoly trade of empire, stifled wealth-creation in both home and foreign lands. Moreover, protectionism preserved the status quo, and privileged a few elites at the expense of long run growth. Smith wrote, "It is the industry which is carried on for the benefit of the rich and the powerful that is principally encouraged by our mercantile system. That which is carried on for the benefit of the poor and the indigent is too often either neglected or oppressed."

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Here is an entirely new concept in acquiring knowledge -- easily, rapidly, enjoyably. There is nothing else like it! These audio tapes include the most important works of many of the greatest thinkers of all time: Thomas Jefferson, Thomas Paine, Alexander Hamilton, Henry David Thoreau, Karl Marx, Niccolo Machiavelli -- authors whose ideas and insights are as relevant to the events of today as they were to the events to their own time.Government and politics have a daily influenced on our lives. The authority and responsibilities given to government affect not only our social customs but our prosperity and our freedom. These tapes present the most important ideas in political history.

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Adam Smith's The Wealth of Nations was recognized as a landmark of human thought upon its publication in 1776. As the first scientific argument for the principles of political economy, it is the point of departure for all subsequent economic thought. Smith's theories of capital accumulation, growth, and secular change, among others, continue to be influential in modern economics. This reprint of Edwin Cannan's definitive 1904 edition of The Wealth of Nations includes Cannan's famous introduction, notes, and a full index, as well as a new preface written especially for this edition by the distinguished economist George J. Stigler. Mr. Stigler's preface will be of value for anyone wishing to see the contemporary relevance of Adam Smith's thought.

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The first truly scientific argument for the principles of political economy.

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1909. Political economy had been studied long before Adam Smith, but the Wealth of Nations may be said to constitute it for the first time as a separate science. The work was based upon a vast historical knowledge, and its principles were worked out with remarkable sanity as well as ingenuity, and skillfully illuminated by apt illustrations. In spite of more than a century of speculation, criticism, and the amassing of new facts and fresh experience, the work still stands at the best all-round statement and defense of some of the fundamental principles of the science of economics. Contents: Of the Causes of Improvement in the Productive Power of Labor and of the Order According to Which its Produce is Naturally Distributed Among the Different Ranks of the People. Of the Nature, Accumulation, and Employment of Stock. Of the Different Progress of Opulence in Different Nations. Of Systems of Political Economy. Of the Revenue of the Sovereign or Commonwealth.

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(Book Jacket Status: Jacketed) Published in 1776, in the same year as the Declaration of Independence,The Wealth of Nationshas had an equally great impact on the course of modern history. Adam Smith’s celebrated defense of free market economies was written with such expressive power and clarity that the first edition sold out in six months. While its most remarkable and enduring innovation was to see the whole of economic life as a unified system, it is notable also as one of the Enlightenment’s most eloquent testaments to the sanctity of the individual in his relation to the state.