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The Wealth of Nations

482 pages, 2018

economics & politics

economics & politics

987 books


711 books

Adam Smith’s Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776, is a seminal work on political economy and the foundation of the modern market economy. 

The book is rich in historical background and acute observations of the 18th-century scene. In addition to its economic analysis, Smith’s masterpiece is an insightful work of political philosophy, revolutionary in its concepts including the notion that self-interest stimulates a healthy economic environment for all.

The Invisible Hand

Adam Smith introduces the concept of the 'Invisible Hand'. This idea suggests that individuals pursuing their own self-interest can lead to benefits for society as a whole. It's like an unseen force that guides free markets and capitalism. So, if you're interested in economics, you should definitely check this out.

Division of Labor

Smith explores the idea of division of labor. He argues that dividing work into smaller tasks increases productivity. This is because workers can specialize in one area, improving their skills and speed. If you're running a business, you might want to look into this concept.

Free Market Economy

The Wealth of Nations is a great book to read if you want to understand the concept of a free market economy. Smith argues that this type of economy, where goods and services are freely exchanged without government intervention, is the most efficient and beneficial for society.

The Role of Self-Interest

Adam Smith believes that self-interest is a powerful driver in the economy. He suggests that when individuals act in their own self-interest, they indirectly promote the good of society. If you're curious about the motivations behind economic decisions, you should definitely dig into this.

The Importance of Competition

Smith also emphasizes the importance of competition in a free market. He believes that competition can lead to better products and services, as businesses strive to outdo each other. If you're interested in the dynamics of the business world, you'll find this concept fascinating.

Quotes 5

Adam Smith's 'The Wealth of Nations' was the most influential book on market economics ever written.

Milton FriedmanMilton Friedman - Economist, Statistician

Adam Smith's 'The Wealth of Nations' is a monumental work that laid the groundwork for modern economics.

John Maynard KeynesJohn Maynard Keynes - Economist, Philosopher

Smith's 'The Wealth of Nations' is a profound exploration of the economic system that remains relevant today.

Friedrich HayekFriedrich Hayek - Economist, Philosopher

Adam Smith's 'The Wealth of Nations' is a foundational text in the field of economics.

Paul SamuelsonPaul Samuelson - Economist, Academic

Smith's 'The Wealth of Nations' is a seminal work that continues to shape our understanding of economic principles.

Joseph StiglitzJoseph Stiglitz - Economist, Author
Milton FriedmanJohn Maynard KeynesFriedrich HayekPaul SamuelsonJoseph Stiglitz


Neil deGrasse Tyson

Neil deGrasse Tyson

educatormedia personalityscientistauthor
Brandon Stanton

Brandon Stanton

Elon Musk

Elon Musk

Nick Szabo

Nick Szabo

authorDavid Heinemeier Hansson

David Heinemeier Hansson

Naval Ravikant

Naval Ravikant

entrepreneurmedia personalitytechnologyventure capitalist

The Wealth of Nations found in libraries

158 books

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