The Wealth of Nations
Published in 1776, An Inquiry into the Nature and Causes of the Wealth of Nations is widely regarded as the founding text of modern economics. Adam Smith argues that a nation's wealth comes from the productive labor of its people rather than from stockpiles of gold, and he explains how the division of labor dramatically increases output. He describes how individuals pursuing their own interest in free markets can, as if guided by an invisible hand, promote the general good. Smith criticizes mercantilism and government interference in trade, advocating instead for competition and open commerce. The book also examines wages, prices, capital, and the proper role of the state. Drawing on history and observation, it laid the intellectual groundwork for classical economics and continues to shape debates about markets and policy.
What you might want to know about The Wealth of Nations
The questions readers send us most often, answered without spoilers.
The founding work of modern economics, explaining how labor, markets, and self-interest create national prosperity.
It is Smith's metaphor for how individuals pursuing self-interest in markets can unintentionally benefit society as a whole.
He criticized mercantilism and heavy government interference in trade, favoring competition and open commerce.
The Wealth of Nations was written by Adam Smith, published in 1776 by University of Chicago Press.
The Wealth of Nations is 581 pages in standard print editions, though page counts vary slightly between hardcover, paperback, and large-print formats.
At an average reading pace of about 250 words per minute, The Wealth of Nations takes most readers 9 to 13 hours to finish.
The Wealth of Nations is available in hardcover, paperback, ebook, and audiobook formats from Amazon, Bookshop.org, ThriftBooks, and most major bookstores.