The Wealth of Nations (Bantam Classics)

The Wealth of Nations (Bantam Classics)
by Adam Smith

The Wealth of Nations (Bantam Classics)
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Book Summary Information

Author: Adam Smith
Introduction: Alan B. Krueger
Edition: Mass Market Paperback
Published: 2003-03-04
ISBN: 0553585975
Number of pages: 1264
Publisher: Bantam Classics

Book Reviews of The Wealth of Nations (Bantam Classics)

Book Review: The all time classic - worth re-reading in a changing economy
Summary: 4 Stars

I reread (more like re-scanned) Adam Smith's famous book, The Wealth of Nations. It is a fairly aggressive book based on its size with almost 1,000 pages of fairly fine print of which half of it is dedicated to the supply and demand of corn. But it is surprisingly readable and even interesting. And it is the basic textbook of all economics.

Wealth is defined as production capability or what we might call GDP.

I figure with a changing economy, it never hurts to brush up on the basics. We are in a period of sharp changes in supply and demand. It is important for business leaders to try to understand what impact this will have on them and their companies.

One principle that Adam espouses is the division of labour.

He also talks about principals, those are the people that supply the capital that is put to use by the agents (people who apply the capital). His view is that people should not do both, they should do one or the other. It is an interesting thought.

He is very harsh on protectionism (as am I).

I am not going to recommend reading it because the size is too daunting for many people. I am suggesting thinking of the changes in our economy and how to thrive with them.

Summary of The Wealth of Nations (Bantam Classics)

The Wealth of Nations
by Adam Smith

It is symbolic that Adam Smith’s masterpiece of economic analysis, The Wealth of Nations, was first published in 1776, the same year as the Declaration of Independence.

In his book, Smith fervently extolled the simple yet enlightened notion that individuals are fully capable of setting and regulating prices for their own goods and services. He argued passionately in favor of free trade, yet stood up for the little guy. The Wealth of Nations provided the first--and still the most eloquent--integrated description of the workings of a market economy.

The result of Smith’s efforts is a witty, highly readable work of genius filled with prescient theories that form the basis of a thriving capitalist system. This unabridged edition offers the modern reader a fresh look at a timeless and seminal work that revolutionized the way governments and individuals view the creation and dispersion of wealth--and that continues to influence our economy right up to the present day.

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