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Adam Smith
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An Inquiry Into the Nature and Causes of the Wealth of Nations, Volume 1 Paperback – February 28, 1982

by Adam Smith (Author), R. H. Campbell (Editor)
4.5 4.5 out of 5 stars 42 ratings
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First published in 1776, the year in which the American Revolution officially began, Smith’s Wealth of Nations sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government.

Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.

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  1. Print length
    550 pages
  2. Language
    English
  3. Publisher
    Liberty Fund
  4. Publication date
    February 28, 1982
  5. Reading age
    18 years and up
  6. Dimensions
    6 x 1.6 x 9 inches
  7. ISBN-10
    0865970068
  8. ISBN-13
    978-0865970069
  9. Lexile measure
    1500L
  10. See all details
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Product details

  • Publisher ‏ : ‎ Liberty Fund; Volume 1 ed. edition (February 28, 1982)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 550 pages
  • ISBN-10 ‏ : ‎ 0865970068
  • ISBN-13 ‏ : ‎ 978-0865970069
  • Reading age ‏ : ‎ 18 years and up
  • Lexile measure ‏ : ‎ 1500L
  • Item Weight ‏ : ‎ 2.23 pounds
  • Dimensions ‏ : ‎ 6 x 1.6 x 9 inches
  • Customer Reviews:
    4.5 4.5 out of 5 stars 42 ratings

About the author

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Adam Smith

Adam Smith

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Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish moral philosopher, pioneer of political economy, and a key figure in the Scottish Enlightenment.

Smith is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is cited as the father of modern economics and is still among the most influential thinkers in the field of economics today.

Smith studied social philosophy at the University of Glasgow and at Balliol College, Oxford, where he was one of the first students to benefit from scholarships set up by fellow Scot, John Snell. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day.

Smith laid the foundations of classical free market economic theory. The Wealth of Nations was a precursor to the modern academic discipline of economics. In this and other works, he expounded upon how rational self-interest and competition can lead to economic prosperity. Smith was controversial in his own day and his general approach and writing style were often satirised by Tory writers in the moralising tradition of William Hogarth and Jonathan Swift. In 2005, The Wealth of Nations was named among the 100 Best Scottish Books of all time. The minor planet 12838 Adamsmith was named in his memory.

Bio from Wikipedia, the free encyclopedia. Photo by unknown artist [Public domain], via Wikimedia Commons.

Customer reviews

4.5 out of 5 stars
4.5 out of 5
42 global ratings

Top reviews from the United States

Jovi & Tricia
5.0 out of 5 stars Back to the basics
Reviewed in the United States on January 17, 2014
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The reason why I went back and bought this book along with "The Theory Of Moral Sentiments" by Adam Smith was to reset and go back to the basics. Re-reading these volumes basically reaffirmed long held knowledge and personal thinking that keeping it simple is better. These readings also revealed the "moral gap" in some of today's methods and the rashness with which thy are embraced. The unnecessary complexities of current economic model, fraught with wolves. Revisiting Smith's thinking is a sure panacea to the long overdue reboot of present day models. Argumentatively, these 17th century principles are not outdated. They are distorted or simply ignored. Hence, the gradual decline in societal ethos.

This book is where to start if you are interested in seismic model shifts such as the treatise by Jeremy Rifkin in "The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism".

While agreeing with Rifkin that Capitalism is facing serious fatalistic threats, I still hold the view that these volumes are reference material for any scholar. A store of knowledge and wisdom. They are excellent for anyone interested in the field of philosophy and economics.

Jovita
12 people found this helpful
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fjness
5.0 out of 5 stars Still a Liberal
Reviewed in the United States on July 6, 2019
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Adam Smith's work is used as a conservative gospel. And much like the Bible, it can represent anything to those who have not read it. Smith's argument is for more liberalized global trade, reduced military spending, more progressive taxation, and smaller government. The current Republicans would chaff at all those programs. Smith would be a mainstream centre left thinker who would inspire Barack Obama and the remainers. This is not what I expected from the Wealth of Nations. What is more astounding is the applicability of his principles and assessments of human activity to today. Please read this book before you use Smith's name in vain to defend a capitalist argument.
24 people found this helpful
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Elliott Blodgett
5.0 out of 5 stars Five Stars
Reviewed in the United States on February 21, 2015
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Great
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Howard L. Kriebel
4.0 out of 5 stars Book was lightly used, but with underlining and notations ...
Reviewed in the United States on September 26, 2014
Book was lightly used, but with underlining and notations added. Acceptable, but should have been indicated.
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Amazon Customer
5.0 out of 5 stars The Foundation of Economics
Reviewed in the United States on September 19, 2000
Being called "the father of economics" is not without reason. Adam Smith demonstrated the essential principles in economics in his all-time classic "The Wealth of Nations" -- a book that changes the history of economic theory development. Read this book and you'll see the wisdom of this great old thinker, and you'll discover that economics is MUCH more than just "supply and demand". At the practical level, ask youself questions like "what is the real meaning of money?" and find answers in the book.
10 people found this helpful
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Thomas C. Miles
4.0 out of 5 stars Observations in 1775 that are amazingly current today
Reviewed in the United States on July 14, 2015
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Adam Smith has cuttingly keen skills of observation of the human story and the human condition. Even he does not like much of what he observes about his fellow man and their machinations: commerce, colonialism, mercantilism, government, religion.

I am amazed at how current 'free market' capitalism has so doggedly cherry-picked Smith for parochial, pecuniary corporate whitewashing. While Smith was not altogether pleased about the state of governance, he was crystal clear that government regulation was essential to prevent the inherent incentives of capitalism towards monopoly and profit at all cost. He is abundantly aware of the almost total disconnection between the common good (commonwealth) and private capital/corporate incentives for growth and profit for growth's and profit's sake at the expense of everything else. He clearly sees and reports son the natural incentive of capital to "privatize profits and socialize cost/expense".
6 people found this helpful
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sfwriter
1.0 out of 5 stars Wrong book
Reviewed in the United States on June 7, 2016
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The Kindle book I received, even after several attempts, was not the book it claims to be - I got Marx's Capital instead. Now while that is also a worthwhile book, it is not the book I was trying to get! Guess it's off to Project Gutenberg for me.
3 people found this helpful
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Terence Wise
5.0 out of 5 stars THE Classic Treatise on the Economy
Reviewed in the United States on June 12, 2014
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A fantastic look into basic economic theory, Smith has formed the foundation for the field since this text's publication. This has been cited by every prominent economist ever, simply because of its stunning accuracy. It is as relevant today as when it was written. This edition is faithful to the printed versions, and its greatly readable. Highly recommended for anyone with even a passing interest in anything in the business or political arenas.
2 people found this helpful
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B
5.0 out of 5 stars Fantastic
Reviewed in the United Kingdom on October 14, 2016
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Fantastic insight into the foundation of economics. Loved it.
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Ivanka R.
1.0 out of 5 stars Print quality cannot possibly be worse
Reviewed in Germany on April 13, 2022
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Picture says it all. Avoid this book as it is impossible to read and I cannot understand how this could be sold. Will consider twice future book purchase from amazon.
Btw return by amazon is just as good as book, they provide free shipping via service that does not exist in second largest city in my country
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Ivanka R.
1.0 out of 5 stars Print quality cannot possibly be worse
Reviewed in Germany on April 13, 2022
Picture says it all. Avoid this book as it is impossible to read and I cannot understand how this could be sold. Will consider twice future book purchase from amazon.
Btw return by amazon is just as good as book, they provide free shipping via service that does not exist in second largest city in my country
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