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The Wealth of Nations: Books I-III (Paperback)

by Adam Smith (Author), Andrew Skinner (Introduction) "The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgement with which it is anywhere directed,..." (more)

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Product details

Paperback: 544 pages
Publisher: Penguin Classics; New Ed edition (25 Sep 2003)
Language English
ISBN-10: 0140432086
ISBN-13: 978-0140432084
Product Dimensions: 19.3 x 13 x 2.8 cm

Average Customer Review: 4.0 out of 5 stars See all reviews (4 customer reviews)

Amazon.co.uk Sales Rank: 24,121 in Books (See Bestsellers in Books)
Popular in these categories:
#11 in Books > Business, Finance & Law > Economics > Labour
#22 in Books > Business, Finance & Law > Economics > Theory & Philosophy
#28 in Books > Business, Finance & Law > Economics > History

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Product Description

Smith's THE WEALTH OF NATIONS was the first comprehensive treatment of political economy. Originally delivered in the form of lectures at Glasgow, the book's publication in 1776 co-incided with America's Declaration of Independence. These volumes include Smith's assessment of the mercantile system, his advocacy of the freedom of commerce and industry, and his famous prophecy that "America will be one of the foremost nations of the world".

About the Author

Adam Smith (1723-90) taught both logic and moral philosophy at Glasgow University. His Wealth of Nations revolutionised the economic theories of the time. Andrew Skinner teaches at the Adam Smith Institute and is an expert on the author's work.

Inside This Book (Learn More)

First Sentence
The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgement with which it is anywhere directed, or applied, seem to have been the effects of the division of labour. Read the first page

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Customer Reviews

4 Reviews

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16 of 30 people found the following review helpful:

5.0 out of 5 stars Prosperity or poverty. Smith vs Marx, 26 Nov 2001

By	L. van den Muyzenberg "Management Consultant" (Cannes France) - See all my reviews (REAL NAME)

Adam Smith like Marx sees changes in the economic system as a logical, inevitable sequence of events. For example the power of the landed aristocracy declined as a consequence of the increasing importance of the towns. Good government was a result of this decline as people that had worked on the estates in conditions close to slavery moved to cities where they had considerable freedom. The difference between Marx and Smith is that Smith considered all of these changes leading to steady improvements whereas Marx considered the results of capitalism and industrialisation and urbanisation disastrous. Marx lived about one hundred years later than Smith. The system had not produced wealth for all as Smith foresaw. Smith believed that if governments would refrain from interfering in the economy prosperity would increase for all. Marx considered that a revolution whereby the capitalist class would be eliminated and private property is abolished a necessary consequence of the exploitation of the workers. Smith believed the opposite in that private property was the main driving force for progress. Their analysis of the historical development looking at it now shows many serious mistakes. However many more of the ideas of Adam Smith are still valid in hindsight than those of Marx. Somewhat surprising both being persons with interest in morality do not ascribe any importance to that subject. Both are imprisoned by the concept that "mechanical" or systemic changes in society can explain changes in the economic system. Many economists to day still fall in the same trap. They do not believe that moral standards can play an important role in the development of economic system. They therefore typically reject new developments such as "socially responsible investing ". Like "Capital" of Marx, the "Wealth of Nations" presents many interesting facts about for example the near slavery conditions in the large agricultural estates throughout Europe. This information is a good antidote to the romantics that believe conditions in the countryside in the past were very pleasant. The Wealth of Nations is lucidly written and shows quite clearly the dependence of wealthy creation on essential but minimal government regulation

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5 of 10 people found the following review helpful:

3.0 out of 5 stars some gems hidden in amongst the wheat husks, 13 Dec 2001

By A Customer

Smith is much under-estimated both amongst philosophers of money (economists) and philosophers of social life (moralists).

And it is true, as the reader from Melbourne says, that the book requires a great deal of dedication in places. At times Smith repeats the same point three, four even five times in short succession, always in the same carefuyl but ponderous prose. yet elsewhere, surprisingly, there are flashes of wit and humanity, alongside the great methodical reasoning and argument that make a philosophical work powerful.

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2 of 15 people found the following review helpful:

4.0 out of 5 stars Invisible hand concept missing, 24 April 2001

By A Customer

I missed clear implications of today's relevance of the "invisible hand" concept. Otherwise the book is still a classical macroeconomic must.

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4.0 out of 5 stars Indexes interchanged? !
At Amazon prices the two volume set containing Smith's Wealth of Nations Books 1 to 5 is hard to beat. Read more

Published 21 days ago by Gareth Greenwood

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