An Inquiry Into the Nature and Causes of the Wealth of Nations

Author: Adam Smith
Publisher: Cosimo, Inc.
ISBN: 1602069018
Format: PDF, ePub, Mobi
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Adam Smith revolutionized economic theory with his 1776 work An Inquiry into the Nature and Causes of the Wealth of Nations. He proposed rules governing labor, supply, and demand; and describes division of labor, stockpiling of wealth, lending, and interest. Smith also discusses how economies lead to opulence. Wealth of Nations also offers a defense for free-market capitalism. Any student of economics should be familiar with the concepts and laws that Smith developed, as much of economic theory is still based upon his work. This Cosimo Classic is an unabridged reprint of the 4th edition, published in London in 1786, and contains both Volume I and Volume II together in the same edition. Scottish economist and philosopher ADAM SMITH (1723-1790) helped set standards in the fields of political economics and moral philosophy, playing a key role in the early development of the scholarship of economics. His other writings include Essays on Philosophical Subjects.

An Inquiry into the Nature and Causes of the Wealth of Nations

Author: Adam Smith
Publisher: Library of Alexandria
ISBN: 1613105290
Format: PDF, Kindle
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The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations. According, therefore, as this produce, or what is purchased with it, bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniencies for which it has occasion. But this proportion must in every nation be regulated by two different circumstances: first, by the skill, dexterity, and judgment with which its labour is generally applied; and, secondly, by the proportion between the number of those who are employed in useful labour, and that of those who are not so employed. Whatever be the soil, climate, or extent of territory of any particular nation, the abundance or scantiness of its annual supply must, in that particular situation, depend upon those two circumstances. The abundance or scantiness of this supply, too, seems to depend more upon the former of those two circumstances than upon the latter. Among 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 conveniencies of life, for himself, and such of his family or tribe as are either too old, or too young, or too infirm, to go a-hunting and fishing. Such nations, however, are so miserably poor, that, from mere want, they are frequently reduced, or at least think themselves reduced, to the necessity sometimes of directly destroying, and sometimes of abandoning their infants, their old people, and those afflicted with lingering diseases, to perish with hunger, or to be devoured by wild beasts. Among civilized and thriving nations, on the contrary, though a great number of people do not labour at all, many of whom consume the produce of ten times, frequently of a hundred times, more labour than the greater part of those who work; yet the produce of the whole labour of the society is so great, that all are often abundantly supplied; and a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniencies of life than it is possible for any savage to acquire.

Der Wohlstand der Nationen

Author: Adam Smith
Publisher: epubli
ISBN: 3746781760
Format: PDF, ePub, Mobi
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Zwölf Jahre brauchte Adam Smith, bevor der 43jährige im Jahre 1776 das Manuskript seiner Untersuchung über Wesen und Ursachen des Volkswohlstandes nach London zum Drucker tragen konnte. Der Wohlstand der Nationen ist zum Großteil als Zusammenfassung der wirtschaftstheoretischen Erkenntnisse zahlreicher liberaler Vordenker zu verstehen. Es erfuhr ein großes Echo durch nachfolgende Ökonomen wie David Ricardo, Thomas Robert Malthus und Karl Marx. Das Werk entstand als Kontrapunkt zum bis dahin wirtschaftspolitisch vorherrschenden Merkantilismus wie er von den damaligen europäischen Großmächten praktiziert wurde. Smith' Werk gilt als das grundlegende Werk der Wirtschaftswissenschaft, welche sich erst in der Folgezeit als eigenständige Wissenschaftsdisziplin etablierte, und markiert sowohl den Beginn der klassischen Nationalökonomie als auch parallel des Wirtschaftsliberalismus.