Adam Smith's book "The Wealth of Nations" Volumes I-III, initially delivered in lecture form in Glasgow, laid the foundations of economic theory and specifically of "classical" economics. This edition from the classic Penguin editions includes an introduction and notes by Andrew Skinner.

The publication of "The Wealth of Nations" in 1776 coincides with the American Declaration of Independence. With this important work on political economy, Adam Smith paves the way for modern capitalism, arguing that a truly free market - enhanced by competition but guided by an "invisible hand" to ensure justice and equality - was the engine of a fair and productive society.

Volumes I-III of "The Wealth of Nations" examine the "division of labor" as the key to economic growth, ensuring the interdependence of individuals within society. They also cover the origins of money and the importance of wages, profits, rents, and shares. The true wisdom of his analysis comes from the combination of ethics, philosophy, and history, creating an extensive ancient picture of society.

This edition includes a detailed introduction offering an in-depth analysis of Smith as an economist and social scientist, as well as a foreword, suggestions for further reading, and explanatory notes.

Adam Smith (1723-90) was born in Glasgow and educated in Glasgow and Oxford. Two years after returning to Scotland, Smith moved to Edinburgh, where he delivered lectures on Rhetoric. In 1751 he was appointed Professor of Logic in Glasgow, but in 1752 he took up the chair of Moral Philosophy. "The Theory of Moral Sentiments" was published in 1759, and "The Wealth of Nations" in 1776, the same year as the Declaration of Independence.

If you liked "The Wealth of Nations," you might also be interested in Karl Marx's "Capital," also available in classic Penguin editions.

Pages: 576, Dimensions: 12.9x12.9cm