An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith

He is well known for being a pioneer of political economy, as well as being a leading figure in the Scottish Enlightenment. This work was his magnum opus, being the product of seventeen years of notes and works. In this work Adam Smith introduced his theory of absolute advantage, meaning the ability of a party to produce a greater quantity of goods than competitors. They were intended to replace the prevalent economic theories of the time, due to the coming industrial progress. In this work the author aimed to offer a practical application for reformed economic theory. In fact, the work showed the clear shift that was happening in the field of economics. The work is still a fundamental reference in classical economics, and provided the foundation for future politicians, economists, thinkers, biologist, and mathematicians. The work is divided into five parts, titled 'One the Causes of Improvement in the Productive Powers of Labor', 'Of the Nature, Accumulation, and Employment of Stock', 'Of the Different Progress of Opulence in Different Nations', 'Of Systems of Political Economy', and 'Of the Revenue of the Sovereign or Commonwealth'. The author discusses the division of labour, productivity, and free markets. 'The Wealth of Nations' was one of the world's first work discussing what builds nation's wealths. With two pages of publisher's adverts to the rear of Volume III. Rebound in a smart quarter crushed morocco binding with paper to the boards, with new endpapers. A smartly rebound three volume set of Adam Smith's influential and popular work on economics, 'The Wealth of Nations', a work which went on to shape economics theory.

An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith