The Wealth of Nations

Books I-III

By: Adam Smith

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Hardcover | 25 January 1994 | Edition Number 1

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1200 Pages

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21.0 x 13.6 x 5.2

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First published in 1776, The Wealth of Nations is generally regarded as the foundation of contemporary economic thought. Adam Smith, a Scottish professor of moral philosophy, expounded the then-revolutionary doctrine of economic liberalism. The book’s importance was immediately recognized by Smith’s peers, and later economists have shown an unusual consensus in their admiration for his ideas.

Combining economics, political theory, history, philosophy, and practical programs, Smith assumes that human self-interest is the basic psychological drive behind economics and that a natural order in the universe makes all the individual, self-interested strivings add up to the social good. His conclusion, that the best program is to leave the economic process alone and that government is useful only as an agent to preserve order and to perform routine functions, is now known as laissez-faire economics or noninterventionism.

In noting for the first time the significance of the division of labor and by stating the hypothesis that a commodity’s value correlates to its labor input, Smith anticipated the writings of Karl Marx. Like Marx’s Das Capital and Machiavelli’s The Prince, his great book marked the dawning of a new historical epoch.

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"Adam Smith's enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things." --Robert L. Heilbroner

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Preface
Editor's Introduction
Introduction and Plan of the Work
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	p. 1
Of the Division of Labour	p. 3
Of the Principle which gives Occasion to the Division of Labour	p. 14
That the Division of Labour is limited by the Extent of the Market	p. 19
Of the Origin and Use of Money	p. 24
Of the real and nominal Price of Commodities, or of their Price in Labour, and their Price in Money	p. 33
Of the component Parts of the Price of Commodities	p. 53
Of the natural and market Price of Commodities	p. 62
Of the Wages of Labour	p. 73
Of the Profits of Stock	p. 100
Of Wages and Profit in the different Employments of Labour and Stock	p. 114
Of the Rent of Land	p. 166
Of the Nature, Accumulation, and Employment of Stock
Introduction	p. 299
Of the Division of Stock	p. 302
Of Money considered as a particular Branch of the general Stock of the Society, or of the Expence of maintaining the National Capital	p. 310
Of the Accumulation of Capital, or of productive and unproductive Labour	p. 360
Of Stock lent at Interest	p. 381
Of the different Employment of Capitals	p. 390
Of the different Progress of Opulence in different Nations
Of the Natural Progress of Opulence	p. 407
Of the Discouragement of Agriculture in the ancient State of Europe after the Fall of the Roman Empire	p. 413
Of the Rise and Progress of Cities and Towns, after the Fall of the Roman Empire	p. 426
How the Commerce of the Towns contributed to the Improvement of the Country	p. 439
Of Systems of political OEconomy
Introduction	p. 455
Of the Principle of the commercial or mercantile System	p. 456
Of Restraints upon the Importation from foreign Countries of such Goods as can be produced at Home	p. 481
Of the extraordinary Restraints upon the Importation of Goods of almost all Kinds, from those Countries with which the Balance is supposed to be disadvantageous	p. 503
Of Drawbacks	p. 533
Of Bounties	p. 540
Digression concerning the Corn Trade and Corn Laws	p. 560
Of Treaties of Commerce	p. 585
Of Colonies	p. 599
Conclusion of the Mercantile System	p. 694
Of the Agricultural Systems, or of those Systems of Political OEconomy, which represent the Produce of Land as either the sole or the principal Source of the Revenue and Wealth of every Country	p. 718
Of the Revenue of the Sovereign or Commonwealth
Of the Expences of the Sovereign or Commonwealth	p. 747
Of the Sources of the general or public Revenue of the Society	p. 879
Of public Debts	p. 981
Appendix on the Herring Bounty	p. 1029
Index I. Subjects	p. 1033
Index II. Authorities	p. 1124
Table of Contents provided by Blackwell. All Rights Reserved.

The Wealth of Nations

Books I-III

At a Glance

Hardcover

Industry Reviews

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