The Wealth of Nations: Representative Selections Book

One of the great classics of economics, this influential work by the noted eighteenth-century philosopher and political economist was the first systematic formulation of classical English economics. Adam Smith's name is popularly associated with his belief that self-interest would operate to bring about the healthiest economic conditions for all, i.e. a laissez-faire system, based on an absolutely free economy. This work is not only marvelously rich in information about earlier historical periods and acute in its observation of the contemporary scene, it is also a great work of political philosophy. In it, Smith emphasizes that labor is the only source of wealth, and that its accumulation is the result of every individual's effort to improve his situation in life. In tracing the means by which the power of labor may be rendered most effective, he eventually shows that wealth does not consist of an abundance of gold and silver but in the conveniences and enjoyments of life. The first great survey of economic life in all its interdependence, this book is recognized as the framework for the development of political economy as a separate discipline. This new Dover edition will be the lowest-priced edition now available. Abridged republication of a standard edition.Read More