An Inquiry Into The Nature And Causes Of The Wealth Of Nations

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Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.

An Inquiry Into The Nature And Causes Of The Wealth Of Nations

Regular price RM22.57 MYR
Unit price
per
ISBN: 9780865970076
Publisher: Liberty Fund
Date of Publication: 1981-01-01
Format: Paperback
Related Collections: Politics, Philosophy, Economics, History
Related Topics: History, Classics, History, Politics
Goodreads rating: 3.95
(rated by 197 readers)

Description

First published in 1776, the year in which the American Revolution officially began, Smith’s Wealth of Nations sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government.Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
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Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.