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An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith (1723–1790). Published in 1776, the book offers one of the first accounts of what builds nations' wealth.
This is an accepted version of this page This is the latest accepted revision, reviewed on 2 March 2025. Scottish economist and philosopher (1723–1790) This article is about the Scottish economist and philosopher. For other people named Adam Smith, see Adam Smith (disambiguation). Adam Smith FRS FRSE FRSA Posthumous Muir portrait, c. 1800 Born c. 16 June [O.S. c. 5 June] 1723 Kirkcaldy, Fife ...
The context for Adam Smith's term for "companies" in The Wealth of Nations was the joint-stock company. In the 18th century, the joint-stock company was a distinct entity created by the King of Great Britain as Royal Charter trading companies.
Even Adam Smith, the canny Scot whose monumental book, The Wealth of Nations (1776), represents the beginning of modern economics or political economy-even he was so thrilled by the recognition of an order in the economic system that he proclaimed the mystical principle of the "invisible hand": that each individual in pursuing his own selfish ...
The Theory of Moral Sentiments is a 1759 book by Adam Smith. [1] [2] [3] It provided the ethical, philosophical, economic, and methodological underpinnings to Smith's later works, including The Wealth of Nations (1776), Essays on Philosophical Subjects (1795), and Lectures on Justice, Police, Revenue, and Arms (1763) (first published in 1896).
The concept was initially referred to in various different ways, and the expression of an "accumulation" at the origin of capitalism began to appear with Adam Smith. [7] Smith, writing The Wealth of Nations in English, spoke of a "previous" accumulation; [8] Karl Marx, writing Das Kapital in German, reprised Smith's expression, by translating ...
Lectures on Jurisprudence, also called Lectures on Justice, Police, Revenue and Arms (1763) is a collection of Adam Smith's lectures, comprising notes taken from his early lectures. It contains the formative ideas behind The Wealth of Nations .
The philosopher Adam Smith is often considered to be the classic presenter of this paradox, although it had already appeared as early as Plato's Euthydemus. [1] Nicolaus Copernicus, [2] John Locke, John Law, [3] and others had previously tried to explain the disparity.