“Wealth of Nations” is a seminal economic work that explores the principles of capitalism and free markets. It delves into the division of labor, productivity, and the role of self-interest in shaping economic systems.
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“Wealth of Nations” is a seminal economic work that explores the principles of capitalism and free markets. It delves into the division of labor, productivity, and the role of self-interest in shaping economic systems.
The author of “Wealth of Nations” is Adam Smith.
Adam Smith (1723-1790), a Scottish economist and philosopher, is renowned for his groundbreaking work “Wealth of Nations.” Published in 1776, this seminal text laid the foundation for classical economics. Smith emphasized the benefits of free-market capitalism, arguing that individuals pursuing self-interest unintentionally contribute to the collective good. He explored concepts like the division of labor, productivity, and the invisible hand—suggesting that an invisible force guides the economy toward equilibrium. Smith’s ideas profoundly influenced economic thought, emphasizing the importance of individual initiative and the market’s ability to efficiently allocate resources. “Wealth of Nations” remains a cornerstone in economic literature.
“The Wealth of Nations” was written by the Scottish economist and philosopher Adam Smith. The book, published in 1776, is considered one of the foundational works in the field of economics. In “The Wealth of Nations,” Adam Smith discusses principles of economics, including the division of labor, the invisible hand, and the role of self-interest in promoting economic prosperity. Smith’s ideas have had a profound influence on economic thought and continue to be studied and discussed in the field of economics today.