Adam Smith, 1723-1790.

Adam Smith: Wealth of Nations, 1776 (Overview)

Book One

Of the Causes of Improvement in the productive Powers of Labour, and of the Order according to which its Produce is naturally distributed among the different Ranks of the People

Chapters I-X (file size: 320 K):

Chapter XI (file size: 277 K):

Book Two

Of the Nature, Accumulation, and Employment of Stock

Chapters I-II (file size: 133 K):

Chapters III-V (file size: 105 K):

Book Three

Of the different Progress of Opulence in different Nations

Chapters I-IV (file size: 98 K):

Book Four

Of Systems of political OEconomy

Chapters I-VI (file size: 301 K):

Chapters VII-IX (file size: 322 K):

Book Five

Of the Revenue of the Sovereign or Commonwealth

Chapter I, part 1 & 2 (file size: 74 K):

Chapter I, part 3 & 4 (file size: 224 K):

Chapter II (file size: 228 K):

Chapter III (file size: 112 K):

Note: Adam Smith (1723-1790), considered the father of modern economic theory. Only to a very limited extent should the state interfere with economic life; a form of laissez-faire, although Smith never uses this expression in his magnum opus. The invisible hand at work within the market mechanism will ascertain that all the needs in society will be covered. Work is the basis for all well-being, while monopoly and cartels are obstacles for the beneficial processes.
After the publication of The Wealth of Nations in 1776, Smith became commissioner of customs at Edinburgh. During his time as "professor of moral philosophy" at Glasgow University, Smith also wrote a moral treatise, "The Theory of Moral Sentiments" (1759).
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