EAN: 9780140432084

THE WEALTH OF NATIONS BOOKS 1-3 - ADAM SMITH KA...

Originally delivered in the form of lectures at Glasgow  Adam Smith's The Wealth of Nations
Books I-III laid the foundations of economic theory in general and 'classical' economics in
particular  and this Penguin Classics edition is edited with an introduction and notes by
Andrew Skinner.The publication of The Wealth of Nations in 1776 coincided with America's
Declaration of Independence  and with this landmark treatise on political economy  Adam Smith
paved the way for modern capitalism  arguing that a truly free market - fired by competition
yet guided as if by an 'invisible hand' to ensure justice and equality - was the engine of a
fair and productive society. Books I - III of The Wealth of Nations examine the 'division of
labour' as the key to economic growth  by ensuring the interdependence of individuals within
society. They also cover the origins of money and the importance of wages  profit  rent and
stocks  but the real sophistication of his analysis derives from the fact that it encompasses a
combination of ethics  philosophy and history to create a vast panorama of society.This edition
contains an analytical introduction offering an in-depth discussion of Smith as an economist
and social scientist  as well as a preface  further reading and explanatory notes.Adam Smith
(1723-90) was born in Glasgow and educated at Glasgow and Oxford. Two years after his return to
Scotland  Smith moved to Edinburgh  where he delivered lectures on Rhetoric. In 1751 Smith was
appointed Professor of Logic at Glasgow  but was translated to chair of Moral Philosophy in
1752. The Theory of Moral Sentiments was published in 1759  and The Wealth of Nations in 1776 
the same year as the Declaration of Independence.If you enjoyed The Wealth of Nations  you
might like Karl Marx's Capital  also available in Penguin Classics.

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