Writer:  Adam Smith

Adam Smith’s ‘The Wealth of Nations’ was published in 1776, during the Scottish Enlightenment and the Scottish Agricultural Revolution. Though, it remains as relevant and influential today as it was during the Enlightenment period. Author’s analysis in this book has shown the way to the modern economic landscape and provides important insights into the mechanics of markets, trade, and wealth generation.

To become familiar with political economy, Adam Smith’s ‘The Wealth of Nations’ can be a perfect choice. We shall come to know about the principles of the free-market capitalist system and how self-interest can contribute to the betterment of society from this book.  One can find combination of philosophical insights, practical examples and historical references here that make the economic concepts accessible to the readers of all backgrounds.

Specially, the concept of division of labor and government’s role in case of economical decision is depicted in a logical and systematic manner.  Author illustrated essential insights of markets, trade and the factors that drive economic growth.  Analysis about free trade, division of labor and limited government intervention provides important instructions to the government and business leaders to make policy.

One of the book’s specialties is its presentation to adapt to contemporary economic discussions and debates. Many of the Smith’s ideas inform contemporary economic theory and policy, such as the principles of supply and demand, competition, and the importance of property rights.

Adam Smith’s ‘The Wealth of Nations’ is a timeless classic for economical thoughts.  It provides valuable insights into the functioning of modern economies.

Print length: 524 Pages    Language: English   Publication date:  November 1, 2018