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Bantam Paperback
It is symbolic that Adam Smith’s masterpiece of economic analysis, The Wealth of Nations, was first published in 1776, the same year as the Declaration of Independence.
In his book, Smith fervently extolled the simple yet enlightened notion that individuals are fully capable of setting and regulating prices for their own goods and services. He argued passionately in favor of free trade, yet stood up for the little guy. The Wealth of Nations provided the first--and still the most eloquent--integrated description of the workings of a market economy.
The result of Smith’s efforts is a witty, highly readable work of genius filled with prescient theories that form the basis of a thriving capitalist system. This unabridged edition offers the modern reader a fresh look at a timeless and seminal work that revolutionized the way governments and individuals view the creation and dispersion of wealth--and that continues to influence our economy right up to the present day.
Random House Trade Paper:
Adam Smith's masterpiece, first published in 1776, is the foundation of modern economic thought and remains the single most important account of the rise of, and the principles behind, modern capitalism. Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's new Introduction for this edition both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."
Penguin Trade Paper: Books I-III
“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”
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, the importance of wages, profit, rent and stocks. Smith’s work laid the foundations of economic theory in general and ˜classical” economics in particular, but the real sophistication of his analysis derives from the fact that it also 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.
Penguin Trade Paper: Books IV-V
Smith offers his considered response to the French Physiocrats and assesses the nature of the mercantile system.
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