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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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Smith’s purpose in The Wealth of Nations is to present an innovative new theory of political economy, so he wastes no time in outlining that theory for his readers in this introduction. He makes it clear that the central question in his book is: why are some nations wealthier than others?
Often considered the foundational text of modern economics, Adam Smith’s massive 1776 treatise The Wealth of Nations addresses a wide range of interconnected questions about how labor, consumption, trade, and good government can help societies grow wealthier over time.
The Wealth of Nations —first published in 1776, during the Scottish Enlightenment and Agricultural Revolution—is Smith’s seminal work, in which he analyzes what constitutes the wealth of a country and reasons why certain nations obtain more per capita wealth than others.
Book II will focus on what stock is, how it accumulates, and what happens when people use it for different purposes. In Book I, Smith laid out the fundamental concepts in his economic theory: the division of labor; how supply and demand determine prices in a competitive market; and how revenue breaks down into wages, profits, and rents.
Adam Smith's The Wealth of Nations Chapter Summary. Find summaries for every chapter, including a The Wealth of Nations Chapter Summary Chart to help you understand the book.
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The Wealth of Nations study guide contains a biography of Adam Smith, literature essays, a complete e-text, quiz questions, major themes, characters, and a full summary and analysis. Best summary PDF, themes, and quotes.
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