Wealth of Nations, Book 2 and 3
by Adam Smith
'Wealth of Nations, Book 2 and 3' Summary
Adam Smith's *The Wealth of Nations* is a foundational text in classical economics. It was published in 1776 during the Scottish Enlightenment and offers an in-depth analysis of the principles governing economic activity. Smith argues for the benefits of a free market system, where individuals pursue their own self-interest, guided by the 'invisible hand' of competition. He analyzes the role of labor, capital, and land in generating wealth, the importance of specialization and division of labor, and the impact of government policies on economic growth. The book's lasting impact lies in its insightful exploration of the forces that drive economic activity and its enduring influence on economic theory and policy.Book Details
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Adam Smith
Scotland
Adam Smith was a Scottish economist, philosopher as well as a moral philosopher, a pioneer of political economy, and a key figure during the Scottish Enlightenment, also known as ''The Father of Econo...
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