The Wealth of Nations (v. 1 & 2)

First published in 1776, the year in which the American Revolution officially began, Smith's "Wealth of Nations" sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government. Criticising mercantilists who sought to use the state to increase their nations' supply of precious metals, Smith points out that a nation's wealth should be measured by the well-being of its people.Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man's social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange. Social and economic order arise from the natural desires to better one's (and one's family's) lot and to gain the praise and avoid the censure of one's neighbors and business associates. Individuals behave decently and honestly because it gives them a clear conscience as well as the good reputation necessary for public approbation and sustained, profitable business relations.

ISBN 0865970084   Part volume In Two Volumes ISBN13 9780865970083 (What's this?)   Volumes 2 Paperbacks Publisher Liberty Fund Inc   Weight (grammes) 1837 Imprint Liberty Fund Inc   Published in Indianapolis, IN Format Paperback   Series editor Skinner, Andrew (Professor of Political Economy, University of Glasgow) Publication date 01 Jan 1982   Series title Glasgow Edition of the Works and Correspondence of Adam Smith Library of Congress AC7.S59 19   Height (mm) 230 DEWEY 330.153   Width (mm) 155 DEWEY edition DC20   Academic level Undergraduate, Postgraduate, Professional / Scholarly Pages 1080   Alternative ISBN 9780786100842

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