Name: The Wealth of Nations, Books 1-3 by Adam Smith (Penguin Classics)
SKU: msc1s1
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The Wealth of Nations, Books 1-3 by Adam Smith (Penguin Classics)

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Penguin Classics, 1982, softcover, index, 537 pages, condition: very good

Originally delivered in the form of lectures at Glasgow, Adam Smith's The Wealth of Nations Books I-III laid the foundations of economic theory in general and 'classical' economics in particular, and this Penguin Classics edition is edited with an introduction and notes by Andrew Skinner.

The publication of The Wealth of Nations in 1776 coincided with America's Declaration of Independence, and with this landmark treatise on political economy, Adam Smith paved the way for modern capitalism, arguing that a truly free market - fired by competition yet guided as if by an 'invisible hand' to ensure justice and equality - was the engine of a fair and productive society. Books I - III of The Wealth of Nations examine the 'division of labour' as the key to economic growth, by ensuring the interdependence of individuals within society. They also cover the origins of money and the importance of wages, profit, rent and stocks; but the real sophistication of his analysis derives from the fact that it encompasses a combination of ethics, philosophy and history to create a vast panorama of society.

This edition contains an analytical introduction offering an in-depth discussion of Smith as an economist and social scientist, as well as a preface, further reading and explanatory notes.

The Wealth of Nations is not an easy read, but it is the best, most truthful look at industrial and geopolitical finance, capitalism and free-market functionality ever written.

If you have ever wondered why something that occurs in some far off land can have an economic impact felt round the world, then the answer can be found in this book.

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