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Wealth of Nationsby Adam Smith
Synopses & Reviews
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:
Book I. Of the Causes of Improvement in the Productive Power of Labour
Book II. Of the Nature, Accumulation, and Employment of Stock Introduction
Book III. Of the Different Progress of Opulence in Different Nations
Book IV. Of Systems of Political Economy
Book V. 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.
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.
About the Author
Adam Smith was born in a small village in Kirkcaldy, Scotland in 1723. He entered the University of Glasgow at age fourteen, and later attended Balliol College at Oxford. After lecturing for a period, he held several teaching positions at Glasgow University. His greatest achievement was writing The Wealth of Nations (1776), a five-book series that sought to expose the true causes of prosperity, and installed him as the father of contemporary economic thought. He died in Edinburgh on July 19, 1790.
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