The Wealth of Nations
The foundational work of modern economics, introducing concepts like the invisible hand, division of labor, and free market theory.
Listen on SWOO.About this book
An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776, is Adam Smith's groundbreaking treatise that laid the foundation for modern economic thought.
Smith explores how nations create wealth, arguing that free markets guided by self-interest and competition (the "invisible hand") lead to prosperity. He examines the division of labor, showing how specialization increases productivity, and critiques mercantilism while advocating for free trade. His analysis covers topics from wages and profits to taxation and the role of government.
Though written over two centuries ago, Smith's insights remain remarkably relevant to contemporary economic debates. This seminal work established economics as a distinct field of study and continues to influence economic policy and theory worldwide.
