The Wealth of Nations by Adam Smith

The Wealth of Nations by Adam Smith

Smith opens with a pin factory: one worker alone might make twenty pins a day, but ten workers dividing the eighteen operations between them make forty-eight thousand. From that observation he builds a whole theory of how nations become rich.

The division of labour, the extent of the market, the origin of money, wages and profit, the invisible hand, and a long, unforgiving attack on the merchants and manufacturers of his own day who lobbied for monopolies while calling it national interest. Anyone who quotes Smith as a defender of business has not read Book Four.

The founding text of economics, complete and unabridged in a single volume.

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