The Wealth of Nations
Adam Smith • 1776economicsdeep-divehistorical
Abstract
An Inquiry into the Nature and Causes of the Wealth of Nations (1776) is the foundational text of modern economics. Adam Smith demonstrated that the wealth of a nation depends not on its stock of gold but on the productivity of its labor, which in turn depends on the division of labor, the accumulation of capital, and the freedom of trade. Frequently cited by the French liberal economists, particularly Molinari and Bastiat.
