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.
The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words. Smith details his argument in five books:
- Of the Causes of Improvement in the Productive Power of Labour
- Of the Nature, Accumulation, and Employment of Stock Introduction
- Of the Different Progress of Opulence in Different Nations
- Of Systems of Political Economy
- Of the Revenue of the Sovereign or Commonwealth
Taken together, these books form a giant leap forward in the field of economics. A product of the “Age of Enlightenment,” The Wealth of Nations is a must for all who wish to gain a better understanding of the principles upon which all modern capitalistic economies have been founded and the process of wealth creation that is engendered by those principles.
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