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

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The book explores the transition from mercantilism to a free market economy, emphasizing the importance of the "invisible hand" in promoting economic growth. Adam Smith argues that the division of labor fosters interdependence among individuals, leading to a system where personal profit motives ultimately benefit society as a whole. By illustrating how specialized trades create dependencies, the work highlights the potential for increased wealth through mutual exchange and the production of goods and services that individuals cannot make on their own.

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An Inquiry Into the Nature and Causes of the Wealth of Nations, Adam Smith

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Released
2022
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Language
English
Authors
Adam Smith
Released
2022
Format
Paperback
Pages
942
ISBN13
9789356567290
Series
First published
1776
Original title
An Inquiry into the Nature and Causes of the Wealth of Nations
Rating
4 out of 5
Description
The book explores the transition from mercantilism to a free market economy, emphasizing the importance of the "invisible hand" in promoting economic growth. Adam Smith argues that the division of labor fosters interdependence among individuals, leading to a system where personal profit motives ultimately benefit society as a whole. By illustrating how specialized trades create dependencies, the work highlights the potential for increased wealth through mutual exchange and the production of goods and services that individuals cannot make on their own.