The Wealth of Nations (Books 4-5)

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Overview

It is in Books IV and V of The Wealth of Nations that Adam Smith offers his considered response to the French Physiocrats, perhaps the first great school of economic theorists, and assesses the nature of the mercantile system, particularly the colonial relationship with America, whose achievements could have been even more spectacular if conditions of free trade and economic union had existed. Even on the eve of the Declaration of Independence, Smith famously predicted that America "will be one of the foremost ...
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The Wealth of Nations

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Overview

It is in Books IV and V of The Wealth of Nations that Adam Smith offers his considered response to the French Physiocrats, perhaps the first great school of economic theorists, and assesses the nature of the mercantile system, particularly the colonial relationship with America, whose achievements could have been even more spectacular if conditions of free trade and economic union had existed. Even on the eve of the Declaration of Independence, Smith famously predicted that America "will be one of the foremost nations of the world." It is also here that he develops the case for a limited state role in economic planning, notably to combat market failure and induce efficiency in areas such as education, public works, justice, and defense. His pioneering analysis still provides many subtle and penetrating insights into one of today's most vital and controversial policy debates.
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Product Details

  • ISBN-13: 9781494844714
  • Publisher: CreateSpace Independent Publishing Platform
  • Publication date: 12/31/2013
  • Pages: 246
  • Product dimensions: 8.00 (w) x 10.00 (h) x 0.52 (d)

Meet the Author

Adam Smith (1723-1790) was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. It earned him an enormous reputation and would become one of the most influential works on economics ever published. Smith is widely cited as the father of modern economics and capitalism. Smith studied social philosophy at the University of Glasgow and the University of Oxford. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. Smith returned home and spent the next ten years writing The Wealth of Nations, publishing it in 1776. He died in 1790.
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Customer Reviews

Average Rating 4
( 27 )
Rating Distribution

5 Star

(12)

4 Star

(8)

3 Star

(5)

2 Star

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1 Star

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See All Sort by: Showing 1 – 20 of 28 Customer Reviews
  • Posted October 27, 2009

    Beware! Great Minds edition is ABRIDGED!

    To sell an abridged edition without stating that is in fact abridged is, simply, fraud. I would like to read, and make up my own mind about as well as learn from, ALL of what Adam Smith wrote.

    22 out of 23 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted May 25, 2007

    A reviewer

    Nobody seriously involved in economics can do without this exhaustive work, originally published in five volumes as An Inquiry into the Nature and Causes of the Wealth of Nations. This classic is a pragmatic and accessible milestone in the history of economics. Its author, Adam Smith, is woven into every economics textbook. However, Smith¿s theories, which today often are recounted mostly in fragments, frequently incorrectly, reveal their entire social and economic innovative power only in context. Smith burst onto the scene at a time when absolutist national states monopolized the world's precious metal reserves and tried to increase their own wealth through stringent export policies. These states were motivated by an entirely new concept about national wealth: that it stemmed from the work of the country's people, not from gold. Based on that idea, economic markets should balance themselves as if guided by an 'invisible hand,' impelled by each individual's self-interest. The state has to provide only an orderly framework and specific public goods and services. Even though Smith's image of idealized economic and social harmony may have developed a few cracks over the course of time, his ideas have inspired many well-known economists during the past 250 years, including David Ricardo, Vilfredo Pareto, Friedrich August von Hayek and Milton Friedman. We highly recommend this seminal work.

    9 out of 11 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted December 31, 2011

    ABRIDGED

    ABRIDGED

    7 out of 7 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted October 4, 2002

    The Founding Book of Capitalism and Economics

    Written by Adam Smith who was the founding father of capitalism. This book was the the historical book that changed the views of many people. This book is highly regarded in the economics community. I reccomend it for anyone who is interested in econ or capitalism. A must read for any thinkers.

    4 out of 4 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted August 25, 2009

    I Also Recommend:

    Difficult but Rewarding

    Extremely tedious, laborious reading with somewhat outdated vernacular, but a must-read for those interested in the history of economic theory.

    2 out of 4 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted October 4, 2010

    more from this reviewer

    Seminal work from the father of economics

    getAbstract believes that no serious economist can do without this exhaustive work, originally published in five volumes as An Inquiry into the Nature and Causes of the Wealth of Nations. This classic is a pragmatic and accessible milestone in the history of economics. Its author, Adam Smith, is woven into every economics textbook. However, Smith's theories, which today often are recounted mostly in fragments, frequently incorrectly, reveal their entire social and economic innovative power only in context. Smith burst onto the scene at a time when absolutist national states monopolized the world's precious metal reserves and tried to increase their own wealth through stringent export policies. These states were motivated by an entirely new concept about national wealth: that it stemmed from the work of the country's people, not from gold. Based on that idea, economic markets should balance themselves as if guided by an "invisible hand," impelled by each individual's self-interest. The state has to provide only an orderly framework and specific public goods and services. Even though Smith's image of idealized economic and social harmony may have developed a few cracks over the course of time, his ideas have inspired many well-known economists during the past 250 years, including David Ricardo, Vilfredo Pareto and Milton Friedman.

    1 out of 2 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted March 12, 2006

    good insights

    I was happy to read this book, again. Full of insights on a changing age. For our current affairs, I recommend a sharp new book China's global reach by george zhibin gu, whose vision and messages are as big as Smith.

    1 out of 3 people found this review helpful.

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  • Anonymous

    Posted July 30, 2005

    Great Version of a Classic!

    This is a great unabridged version of the great (and first) economics classic, with rather nice paper, and a nice typeface, includes a chronology of Adam Smith's life, and also has a built in bookmark (the ribbon type) which is handy. However, either due to the age (14 yrs old, published in '91) or lack of quality, all the black parts (which are made of some sort of ink) on the book, get rubbed off after a while. That's the only reason I gave it only four stars, as it tends to look a little tacky, with big patches missing from the book label. However, if you don't mind that, this is an excellent edition.

    1 out of 2 people found this review helpful.

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  • Posted January 9, 2015

    Highly Recommended - you must check it out!!

    All you need to know.

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  • Posted August 24, 2014

    This is reprint's Edwin Cannan's extensively annotated 1904 scho

    This is reprint's Edwin Cannan's extensively annotated 1904 scholarly edition. This is the edition reprinted by the University of Chicago Press in 1976 for the 200th anniversary of its original publication. You can be assured that this is the most widely accepted, standard academic edition.
    It does not contain Cannan's Introduction or Index. It does contain his Notes and Marginal Summary. Obviously it does not have the George J. Stigler's Preface from the UofC edition, but it contains an introduction by Robert Reich, commentary by R. H. Campbell and A. S. Skinner and a Modern Library "Reading Group Guide".
    Having looked over all of the edition's on the B&N site, I recommend this one as superior to the others, even if more expensive.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted November 20, 2008

    No text was provided for this review.

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    Posted August 10, 2009

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    Posted June 27, 2012

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  • Anonymous

    Posted March 17, 2009

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    Posted October 24, 2008

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    Posted September 4, 2010

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  • Anonymous

    Posted April 11, 2009

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  • Anonymous

    Posted June 20, 2009

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  • Anonymous

    Posted September 12, 2009

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    Posted November 4, 2008

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