An Inquiry into the Nature and Causes of the Wealth of Nations
Author: Adam Smith, Edwin Cannan and George J. Stigler
The Wealth Of Nations was recognized as a landmark of human though upon its publication in 1776. As the first scientific argument for the principles of political economy, it is the point of departure for all subsequent economic thought.
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Summary
The Wealth Of Nations was recognized as a landmark of human though upon its publication in 1776. As the first scientific argument for the principles of political economy, it is the point of departure for all subsequent economic thought.
Description
Adam Smith's The Wealth of Nations was recognized as a landmark of human thought upon its publication in 1776. As the first scientific argument for the principles of political economy, it is the point of departure for all subsequent economic thought. Smith's theories of capital accumulation, growth, and secular change, among others, continue to be influential in modern economics.
This reprint of Edwin Cannan's definitive 1904 edition of The Wealth of Nations includes Cannan's famous introduction, notes, and a full index, as well as a new preface written especially for this edition by the distinguished economist George J. Stigler. Mr. Stigler's preface will be of value for anyone wishing to see the contemporary relevance of Adam Smith's thought.
About the Author
Adam Smith (1723-1790) was a Scottish professor, economist, and philosopher and a key figure of the Scottish Enlightenment. Smith wrote two major works, The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, often abbreviated as The Wealth of Nations, is the first theoretical work of economics. Smith laid the foundations of classical free market economic theory. He developed the concept of division of labour and theorized that rational self-interest and competition leads to economic prosperity.
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