- Mass Market Paperback: 1264 pages
- Publisher: RHUS; Annotated edition edition (4 March 2003)
- Language: English
- ISBN-10: 9780553585971
- ISBN-13: 978-0553585971
- ASIN: 0553585975
- Product Dimensions: 10.7 x 5.1 x 17.5 cm
- Average Customer Review: 61 customer reviews
- Amazon Bestsellers Rank: #3,996 in Books (See Top 100 in Books)
The Wealth of Nations Mass Market Paperback – 4 Mar 2003
Mass Market Paperback
MP3 CD, Abridged, Audiobook, MP3 Audio
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"Adam Smith's enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things."
--Robert L. Heilbroner
From the Inside Flap
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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The good part is that you can read it like a novel. Its story telling for the most part which makes it s pleasure at times. It took me over 1 month to compete this book, and yes I had to skim over some topics because I didn't find them relevant in the modern era. This is not a book for faint hearted, it will test you character to solider on. Perseverance is a virtue, which you will need in plenty whist read this book. Some of the topics like the funding of east India Company was very interesting to me. The author rightly points out that India and Egypt and too some extend China were still mostly focused on agriculture while the UK was already playing the money game with debt financing of their companies like the East India Company. No wonder the UK went on to rule the world. It was centuries ahead.
If you read this book, then you should because its a classic. I am surprised at way Adam Smith with no formal Economic background and with mostly power of observation was about to deduce so much out of the world around him and write a classic which even to this day is as relevant as it was then.
This text by Adam Smith summarizes capitalism in it's purest sense. How markets move, why they move, and thought experiments on how variables affect the outcomes. It's famous for a reason. It's a bit hard to get through in some parts but you can reread to understand better or skip dry parts altogether.
Going back to this original text is both refreshing and enlightening.
The "Wealth of Nations" remains the most truthful defense of the economic science. But remember that Adam Smith also wrote "The Theory of Moral Sentiments"; for Smith, economics was a search to better people's life rather than simply a quest to optimize mathematical functions or estimate variables using econometric models.
To simply associate Smith with expressions such as the "invisible hand," does not do him justice. Take, for example, the opening chapter on the division of labor: first, Smith defends the division of labor as being efficient; then, he defends it as an essential component of the freedom to allocate one's labor to one's talents; finally, he links the division of labor to trade: without the freedom to exchange the fruits of one's labor, the division of labor is meaningless. The point is that Adam Smith defends the rationale for the market, rather than just explain its mechanics.
Anyone studying economics in school would think that economics is all about efficiency; this preoccupation, inevitably, breeds economists who support the market simply because it works.
But to read Adam Smith is to enter the realm of an economic science where the ultimate benchmark is not efficiency but human freedom and welfare. That is, probably, what Smith would remark if he were to sit in an economics class today, and why the "Wealth of Nations" is as revolutionary today as it was two centuries ago.
It's a very thick book containing over 1200 pages in a small form factor. The binding is hard to handle and pages are decent quality. Font is readable. But this edition by Bantam classics is one of the few complete editions you can get.
If you prefer ebooks over paper ones buy kindle version as it'll be more manageable to read.
I would recommend it to anyone who has the will and time to peruse this superb volume. ♥️
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This book is for anyone who wants to understand how different economies...Read more