An Inquiry Into The Nature And Causes Of The Wealth Of Nations Volume 1

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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 thedivision of labour, productivity, and free markets.

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1835 edition. Excerpt: ... An inquiry into the nature and causes of the wealth of nations Adam Smith iii PREFACE TO THIS EDITION. "The book," says a masterly writer*, " which has changed the face of a science, even when not superseded in its doctrines, is seldom suitable to didactic purposes. It is adapted to the state of mind, not of those who are ignorant of every doctrine, but of those who are instructed in an erroneous doctrine. So far as it is taken up directly in combating the errors which prevailed before it was written, the more completely it has done its work, the more certain it is of becoming superfluous, not to say unintelligible, without a commentary." These remarks are not less applicable to Adam Smith's Inquiry into the Nature and Causes of the Wealth of Nations, than to Locke's Essay on the Human Understanding. In political economy, the former work is the book which has changed the face of a science; and no small portion of it is taken up * London Review, art. State of Philosophy in England.--A. r. in directly combating the errors which prevailed before it was written. At this time, an argument, however powerful and complete, against the Mercantile and Agricultural Systems of the last century, would be wholly superfluous; and for this reason: that those Theories have been demolished by Adam Smith's Inquiry. So completely has that book done its work, that the controversy in which the author engaged, has lost all interest, and is nearly forgotten. Who now cares to be told, that money is not wealth; that land is not the only source of wealth; or that the cause and measure of national wealth is not the excess of exports over imports? When doctrines become obsolete, the controversial matter of the book which has refuted them

Adam Smith was a philosopher before he ever wrote about economics, yet until now there has never been a philosophical commentary on the Wealth of Nations. Samuel Fleischacker suggests that Smith's vastly influential treatise on economics can be better understood if placed in the light of his epistemology, philosophy of science, and moral theory. He lays out the relevance of these aspects of Smith's thought to specific themes in the Wealth of Nations, arguing, among other things, that Smith regards social science as an extension of common sense rather than as a discipline to be approached mathematically, that he has moral as well as pragmatic reasons for approving of capitalism, and that he has an unusually strong belief in human equality that leads him to anticipate, if not quite endorse, the modern doctrine of distributive justice. Fleischacker also places Smith's views in relation to the work of his contemporaries, especially his teacher Francis Hutcheson and friend David Hume, and draws out consequences of Smith's thought for present-day political and philosophical debates. The Companion is divided into five general sections, which can be read independently of one another. It contains an index that points to commentary on specific passages in Wealth of Nations. Written in an approachable style befitting Smith's own clear yet finely honed rhetoric, it is intended for professional philosophers and political economists as well as those coming to Smith for the first time.

Adam Smith's ground braking work in economics, "The Wealth of Nations." Book 1: BOOK I. OF THE CAUSES OF IMPROVEMENT IN THE PRODUCTIVE POWERS OF LABOUR, AND OF THE ORDER ACCORDING TO WHICH ITS PRODUCE IS NATURALLY DISTRIBUTED AMONG THE DIFFERENT RANKS OF THE PEOPLE. CHAPTER I. OF THE DIVISION OF LABOUR. CHAPTER II. OF THE PRINCIPLE WHICH GIVES OCCASION TO THE DIVISION OF LABOUR. CHAPTER III. THAT THE DIVISION OF LABOUR IS LIMITED BY THE EXTENT OF THE MARKET. CHAPTER IV. OF THE ORIGIN AND USE OF MONEY. CHAPTER V. OF THE REAL AND NOMINAL PRICE OF COMMODITIES, OR OF THEIR PRICE IN LABOUR, AND THEIR PRICE IN MONEY. CHAPTER VI. OF THE COMPONENT PART OF THE PRICE OF COMMODITIES. CHAPTER VII. OF THE NATURAL AND MARKET PRICE OF COMMODITIES. CHAPTER VIII. OF THE WAGES OF LABOUR. CHAPTER IX. OF THE PROFITS OF STOCK. CHAPTER X. OF WAGES AND PROFIT IN THE DIFFERENT EMPLOYMENTS OF LABOUR AND STOCK. CHAPTER XI. OF THE RENT OF LAND.

THE MOST INFLUENTIAL BOOK ON MODERN ECONOMICS The Wealth of Nations is an economics book like no other. First published in 1776, Adam Smith's groundbreaking theories provide a recipe for national prosperity that has not been bettered since. It assumes no prior knowledge of its subject, and over 200 years on, still provides valuable lessons on the fundamentals of economics. This keepsake edition is a selected abridgement of all five books, and includes an Introduction by Tom Butler-Bowdon, drawing out lessons for the contemporary reader, a Foreword from Eamonn Butler, Director of the Adam Smith Institute, and a Preface from Dr. Razeen Sally of the London School of Economics.