The Wealth of Nations

More about the book

Focusing on the concept of self-interest, the book explores how individual pursuits can lead to societal benefits through the "invisible hand." Written in 1776, it critiques the mercantilist system, which viewed wealth as finite and relied on hoarding precious metals. Smith establishes the principles of classical free market economics, arguing that rational self-interest and competition foster economic growth. This work serves as a foundational text for modern economics, influencing the discipline's development and understanding of market dynamics.