The Wealth of Nations  (English, Paperback, Smith Adam)

The Wealth of Nations Books I-III is a pioneering series of writings on economic analysis. Adam Smith promotes the idea of a free economy and controlled prying of the state.

Summary of the Book

This volume delves into the nuances of economic analysis and provides helpful propositions for the progress of the world economy. Books I-III of The Wealth of Nations assert the idea of ‘division of labour' as the key to economic development, by safeguarding the interdependence of individuals within a society. They also discuss the origins of money, the significance of incomes, profit, rent and stocks. This seminal work of Adam Smith laid the fundamentals of economic theory in general and classical economics in particular. The real sophistication of his analysis is believed to be derived from the fact that it also incorporates a blend of ethics, philosophy and history to create a massive prospect of a society. This edition also consists of an analytical introduction that provides an exhaustive discussion of Smith as an economist and social scientist.

About Adam Smith

Born in 1723, in a remote village in Scotland, Smith was a moral philosopher and political economist. He and his significant work, The Wealth of Nations, have been accredited with determining the modern economic policies. Smith attended the University of Glasgow and Balliol College at Oxford. He served as a Professor and taught Logic courses at the University of Glasgow. He had also held the Chair of Logic at the same institute. Smith was also chosen as a Fellow of the Royal Society. He was appointed as the Commissioner of Customs for Scotland in 1778. Smith was also a founding member of the Royal Society of Edinburgh. He passed away in 1790. His other notable work is The Theory of Moral Sentiments.