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  2. An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith (1723–1790).

  3. the savage nations of hunters and fishers, every individual who is able to work, is more or less employed in useful labour, and endeavours to provide, as well as he can, the necessaries and conveniences of life, for himself,

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  4. May 18, 2024 · The Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy.

  5. Smith laid the foundations of classical free market economic theory. The Wealth of Nations was a precursor to the modern academic discipline of economics. In this and other works, he expounded upon how rational self-interest and competition can lead to economic prosperity.

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  6. The Wealth Of Nations begins with Smith explaining production and exchange, and their contribution to national income. Using the example of a pin factory, Smith shows how specialisation can boost human productivity enormously. By specialising, people can use their talents, or acquire skill.

  7. Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich’s Introduction both...

  8. Adam Smith revolutionized economic theory with his 1776 work An Inquiry to the Nature and Causes of the Wealth of Nations. He proposed rules governing labor, supply, and demand; and describes...

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