Wealth of Nations
Adam Smith revolutionized economic theory with his 1776 work An Inquiry to the Nature and Causes of the Wealth of Nations. He proposed rules governing labor, supply, and demand; and describes division of labor, stockpiling of wealth, lending, and interest. Smith also discusses how economies lead to opulence. Wealth of Nations also offers a defense for free-market capitalism. This edition of Wealth of Nations is an abridged version edited by Harvard economics professor CHARLES JESSE BULLOCK (1869-1941) and published in 1901 by Harvard Classics, a series that offered the essential readings for anyone who wanted the functional equivalent of a liberal arts education. Any student of economics should be familiar with the concepts and laws that Smith developed, as much of economic theory is still based upon his work. Scottish economist and philosopher ADAM SMITH (1723-1790) helped set standards in the fields of political economics and moral philosophy, playing a key role in the early development of the scholarship of economics. His other writings include Essays on Philosophical Subjects.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Of the Origin and Use of Money
Price fa labour and Their Price in Money
Of the Natural and Market Price of Commodities
Of the Wages of Labour
Of the Profits of Stock
Of Money Considered as a Particular Branch of the General
Such Goods as Can Be Produced at Home
of Almost All Kinds from Those Countries with which
Economy Which Represent the Produce of Land as Either
Of the Rent of Land
according advantage afford altogether annual annual produce bank become bounty bring Britain called capital carried cattle cent circulation coin commerce commodities commonly consequence considerable considered consumed consumption continually corn cultivation deal demand diminish duties effect employed employment England equal established Europe exchange expence exportation fall farmer five foreign four France frequently give gold and silver greater hands houses hundred immediate importation improvement increase industry interest kind labour land landlord less maintain manner manufactures master materials means merchants metals natural necessarily necessary never obliged occasion ordinary paid particular perhaps person poor pounds present probably produce profit proportion purchase quantity raise regulated rent require revenue rich rise seems sell shillings society sometimes sort subsistence sufficient supply supposed things tion town trade wages wealth whole workmen
Page 10 - But if they had all wrought separately and independently, and without any of them having been educated to this peculiar business, they certainly could not each of them have made twenty, perhaps not one pin in a day...
Page 20 - It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.