The Wealth of Nations

by Adam Smith · 1776 · English

Science & economicsWorld

About the book

Smith argues that wealth comes from labour and productivity, not gold, and that free markets guided by self-interest, the 'invisible hand', benefit society. His pin-factory example illustrates the division of labour. He criticized mercantilism and is called the father of economics.

Why it matters

Founding work of modern economics; introduced the 'invisible hand' and the division of labour.