The Wealth of Nations
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| + | "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 [[Self-interest|interest]]." --''[[The Wealth of Nations]]'' (1776) | ||
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| + | "No society can surely be flourishing and happy, of which the far greater part of the members are [[Poverty|poor]] and miserable." --''[[The Wealth of Nations ]]'' | ||
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| + | '''''An Inquiry into the Nature and Causes of the Wealth of Nations''''' is the ''[[magnum opus]]'' of the [[Scotland|Scottish]] economist [[Adam Smith]], published on [[March 9]],[[1776]] during the [[Scottish Enlightenment]]. It is a clearly written account of [[political economy]] at the dawn of the [[Industrial Revolution]], and is widely considered to be the first modern work in the field of [[economics]]. The work is also the first comprehensive defense of [[free market]] policies. It is broken down into five books between two volumes. ''The Wealth of Nations'' was written for the average educated individual of the [[18th century]] rather than for specialists and mathematicians. | ||
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| + | There are three main concepts that [[Adam Smith]] expands upon in this work that forms the foundation of free market economics: division of labour, pursuit of self interest, and freedom of trade. | ||
| + | ==See also== | ||
| + | * [[Free trade]] | ||
| + | * [[American School (economics)|American School]] of Economics | ||
| + | * [[Austrian School]] of Economics Free Trade and Capitalism | ||
| + | * [[Classical economics]] | ||
| + | * [[New Keynesian economics]] | ||
| + | * [[Marginalism]] | ||
| + | * [[Neoclassical economics]] | ||
| + | * [[Political economy]] | ||
| + | * ''[[The Theory of Moral Sentiments]]'' (1759), Adam Smith's other classic | ||
| + | * ''[[The National Gain]]'', a pamphlet by Finnish-Swedish economist and politician [[Anders Chydenius]] which preceded ''The Wealth of Nations'' and which had similar ideas. | ||
| + | * [[Wealth (economics)]] | ||
| + | * The [[invisible hand]] | ||
| + | * [[Mercantilism]] | ||
| + | *[[The Wealth and Poverty of Nations]] | ||
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"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." --The Wealth of Nations (1776) "No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." --The Wealth of Nations |
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An Inquiry into the Nature and Causes of the Wealth of Nations is the magnum opus of the Scottish economist Adam Smith, published on March 9,1776 during the Scottish Enlightenment. It is a clearly written account of political economy at the dawn of the Industrial Revolution, and is widely considered to be the first modern work in the field of economics. The work is also the first comprehensive defense of free market policies. It is broken down into five books between two volumes. The Wealth of Nations was written for the average educated individual of the 18th century rather than for specialists and mathematicians.
There are three main concepts that Adam Smith expands upon in this work that forms the foundation of free market economics: division of labour, pursuit of self interest, and freedom of trade.
See also
- Free trade
- American School of Economics
- Austrian School of Economics Free Trade and Capitalism
- Classical economics
- New Keynesian economics
- Marginalism
- Neoclassical economics
- Political economy
- The Theory of Moral Sentiments (1759), Adam Smith's other classic
- The National Gain, a pamphlet by Finnish-Swedish economist and politician Anders Chydenius which preceded The Wealth of Nations and which had similar ideas.
- Wealth (economics)
- The invisible hand
- Mercantilism
- The Wealth and Poverty of Nations
