An Inquiry Into the Nature and Causes of the Wealth of Nations

The Wealth of Nations is the foundational text of modern economics, reflecting – contrary to the common notion – the clearly national consciousness of its author and demonstrating that modern economic imagination (and activity) is a product of nationalism.

Its nationalist inspiration is the main reason I recommend reading it, for the commonplace interpretations of this classic miss this most interesting aspect of the work. In addition, it is a delightful text. 

To read this book, published in 1776, is to experience the stimulus of an energetic and original mind, It is an intense education in the economics way of thinking, pushing to the limit the exploration of often far-reaching unintended and unwanted consequences of government policies. The experience forever changes where one looks when analyzing and diagnosing the implications and dynamics of economic policies. Smith’s real insights remain timely today, such as when he states that government debts are never paid off by raising taxes. Smith ranges far and wide to bag his prey but all is fused and rendered consistent… show more.