By Adam Smith
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. 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. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labor, productivity, and free markets."
Genres:
Download condensed version of the book published by the Adam Smith Institute (UK free market think thank)
Robert McCrum on The Guardian wrote:"I’ve been a business writer since 1969, I specialize in unearthing journalistic nuggets buried in lengthy financial documents that even lawyers find dull — and I’ve never been able to get more than 50 pages into Adam Smith. [...] But over the years, I’ve read introductions to the book and commentaries about it, listened to discussions of its principles and have even cited some of its points in my own articles. As with the Bible or “Moby-Dick,” you don’t have to be familiar with the entire work in order to grasp its essence."
"Although it provided a comprehensive and magisterial treatment of its subject, it was also a work of robust common sense, intelligible to any careful reader, braiding history, philosophy, psychology, and sociology in a compelling tapestry of theory and experience. Smith, writes one commentator, was concerned to improve 'the human condition in practical ways for real people'."
Background on the Author & His Work
- Entry on Adam Smith in the Internet Encyclopedia of Philosophy
- Moral Markets Book Interview on the link with Adam Smiths The Theory of Moral Sentiments
Overview of books on the work of Adam Smith
Books about The Wealth of Nations
- Fleischacker, Samuel (2005). On Adam Smith's Wealth of Nations; A Philosophical Companion, Princeton University Press. ISBN 9781400826056.
- McCreadie, Karen (2009). Adam Smith's The Wealth of Nations: A modern-day interpretation of an economic classic, Infinite Ideas. ISBN 978-1-906821-03-6
- O'Rourke, P.J. (2006). On The Wealth of Nations, Atlantic Monthly Press. ISBN 978-0871139498
Modern Editions of The Wealth of Nations
- Abbott, Lewis F. (2015). Smith, Adam. The Wealth of Nations: A Translation into Modern English, Industrial Systems Research. ISBN 978-0-906321-70-6
- Sutherland, Kathryn (2008). Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations: A Selected Edition, Oxford University Press. ISBN 978-0-19-953592-7
Table of Contents
The links in the chapters below go to corresponding videos in an online course from Marginal Revolution University (MRU). The course is being taught by George Mason University economics professors Tyler Cowen and Alex Tabarrok, founders of MRU.
BOOK 1: INDUSTRIAL PRODUCTION, DISTRIBUTION AND INCOMES
- Chapter 1: Industrial Specialization
- Chapter 2: The Origins Of Industrial Specialization
- Chapter 3: The Extent Of The Market Limits Specialization
- Chapter 4: The Origins And Use Of Money
- Chapter 5: The Real Economic And Nominal Monetary Prices Of Goods
- Chapter 6: Supply Prices, Production Costs And Incomes
- Chapter 7: The Natural And Market Prices Of Products
- Chapter 8: The Wages Of Labour
- Chapter 9: The Profits Of Capital
- Chapter 10: Wages And Profits In Different Trades
- Chapter 11: The Rent Of Land
BOOK 2: CAPITAL – ITS NATURE, ACCUMULATION AND USES
- Chapter 1: Different Types Of Capital
- Chapter 2: Monetary Capital
- Chapter 3: The Accumulation Of Capital
- Chapter 4: Capital Lent At Interest
- Chapter 5: The Different Uses Of Capital
BOOK 3: NATIONAL ECONOMIC GROWTH AND PERFORMANCE DIFFERENCES
- Chapter 1: The Natural Process Of Economic Growth
- Chapter 2: The Discouragement Of Agriculture In Europe After The Fall Of The Roman Empire
- Chapter 3: Urban Growth And Manufacturing After The Fall Of The Roman Empire
- Chapter 4: The Contribution Of Urban Industry And Commerce To Rural Economies
BOOK 4: POLITICAL-ECONOMIC THEORIES AND POLICIES
- Chapter 1: The Mercantilist Political Economic Model
- Chapter 2: Restrictions On Importing Goods Capable Of Domestic Production
- Chapter 3: Restrictions On Imports To Correct So-called Disadvantageous Trade Balances
- Chapter 4: Tax Refunds On Exports
- Chapter 5: Export Subsidies
- Chapter 6: Treaties Of Commerce
- Chapter 7: Colonies
- Chapter 8: The Mercantilist System – Conclusions
- Chapter 9: The Agricultural Political Economic Model – The Notion Of Land As The Great Source Of National Wealth
BOOK 5: GOVERNMENT FINANCES – PUBLIC EXPENDITURE, TAXATION AND BORROWING
