"The Wealth of Nations" is divided into five chapters, summarizing the experience of capitalist development in various countries in the early modern period, critically absorbing the important economic theories of the time, and for the first time proposing the theory that the market economy will be self-regulated by the "invisible hand." Its first publication marked the birth of economics as an independent discipline and was the starting point of modern political economics research. Therefore, the book is known as "the first systematic great economics work", "the encyclopedia of economics" and "the Bible of Western economics".
Reader comments
This book is really amazing! The views put forward by Adam Smith in "The Wealth of Nations" are very insightful. He believed that division of labor can improve labor productivity, which I have also experienced in my life. Just like my uncle's factory, every worker has his or her own specialty, and the final products are of extremely high quality. Moreover, this book is known as the encyclopedia of economics. I think it is a very helpful book for a recent graduate like me, which can allow me to better understand the basic principles of economics.
This book is really amazing! The views put forward by Adam Smith in "The Wealth of Nations" are very insightful. He believed that division of labor can improve labor productivity, which I have also experienced in my life. Just like my uncle's factory, every worker has his or her own specialty, and the final products are of extremely high quality. Moreover, this book is known as the encyclopedia of economics. I think it is a very helpful book for a recent graduate like me, which can allow me to better understand the basic principles of economics.