Adam Smith's 1776 foundational text of modern economics — arguing through the pin factory, division of labor, and invisible hand metaphor that markets coordinate economic activity more efficiently than central direction — the founding document of free market economics.
Creates the systematic argument for market economics — The Wealth of Nations provides the foundational propositions (specialization increases productivity; markets coordinate through price without central direction; free trade benefits all parties) that have anchored free market advocacy for 250 years.
No recorded contemporaries.
Discussing
Ask anything about The Wealth of Nations — their ideas, influences, contradictions, legacy.
Sign in to start a conversation.