The Wealth of Nations

Summary

The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words. Smith details his argument in five books:

Book I. Of the Causes of Improvement in the Productive Power of Labour

Book II. Of the Nature, Accumulation, and Employment of Stock Introduction

Book III. Of the Different Progress of Opulence in Different Nations

Book IV. Of Systems of Political Economy

Book V. Of the Revenue of the Sovereign or Commonwealth

Taken together, these books form a giant leap forward in the field of economics. A product of the "Age of Enlightenment," The Wealth of Nations is a must for all who wish to gain a better understanding of the principles upon which all modern capitalistic economies have been founded and the process of wealth creation that is engendered by those principles.