An Inquiry into the Nature and Causes of the Wealth of Nations

Description of book

Adam Smith's 'An Inquiry into the Nature and Causes of the Wealth of Nations' is a seminal work in the field of economics, introducing the concept of the invisible hand and laying the foundation for modern capitalist theory. Written in a clear and rational style, the book explores the principles of free markets, division of labor, and the importance of self-interest in driving economic growth. Smith carefully examines the factors that contribute to a nation's wealth, including labor productivity, capital accumulation, and the role of government in regulating trade. This book is a must-read for anyone interested in understanding the basics of economic theory and its historical development. Adam Smith, a Scottish economist and philosopher, was influenced by the intellectual currents of his time, including the Enlightenment and the Scottish Enlightenment. As a professor of moral philosophy, Smith observed the economic activities of nations and individuals, leading him to write 'The Wealth of Nations' as a comprehensive exploration of economic principles. His work revolutionized the field and continues to shape economic thought today. I highly recommend 'An Inquiry into the Nature and Causes of the Wealth of Nations' to readers who are curious about the origins of modern economic theory and the foundations of capitalism. Smith's insights into the workings of markets and the role of self-interest in driving economic progress remain relevant to this day.