Adam Smith's The Wealth of Nations is the great pioneering study of economic growth and performance.

When first published in 1776, the factory-based Industrial Revolution was only just getting underway. However, there had been steadily rising production and incomes in Britain, the North American colonies, Holland and other countries since at least the late 17th century.

Smith uses basic theory, observation and documentary sources to analyze the nature and causes of economic advancement in general.

The book is lengthy and wide-ranging. It examines the contributions to production of labour, land and capital. It explains the economic importance of large buoyant markets and industrial specialization. It also shows that national wealth does not depend on economic factors alone. For example, the favourableness or otherwise of the political-legal environment for industry and commerce is everywhere a major influence on national prosperity.

This is a moderately abridged current language version of the book – essentially translating the work into modern English to improve its readability and understandability. The translation is substantive but retains literalness and original word order and grammar as far as possible.

CONTENTS:

Editorial Foreword

Author’s Introduction

BOOK 1: INDUSTRIAL PRODUCTION, DISTRIBUTION AND INCOMES

Chapter 1: Industrial Specialization

Chapter 2: The Origins Of Industrial Specialization

Chapter 3: The Extent Of The Market Limits Specialization

Chapter 4: The Origins And Use Of Money

Chapter 5: The Real Economic And Nominal Monetary Prices Of Goods

Chapter 6: Supply Prices, Production Costs And Incomes

Chapter 7: The Natural And Market Prices Of Products

Chapter 8: The Wages Of Labour

Chapter 9: The Profits Of Capital

Chapter 10: Wages And Profits In Different Trades

Chapter 11: The Rent Of Land

BOOK 2: CAPITAL – ITS NATURE, ACCUMULATION AND USES

Chapter 1: Different Types Of Capital

Chapter 2: Monetary Capital

Chapter 3: The Accumulation Of Capital

Chapter 4: Capital Lent At Interest

Chapter 5: The Different Uses Of Capital

BOOK 3: NATIONAL ECONOMIC GROWTH AND PERFORMANCE DIFFERENCES

Chapter 1: The Natural Process Of Economic Growth

Chapter 2: The Discouragement Of Agriculture In Europe After The Fall Of The Roman Empire

Chapter 3: Urban Growth And Manufacturing After The Fall Of The Roman Empire

Chapter 4: The Contribution Of Urban Industry And Commerce To Rural Economies

BOOK 4: POLITICAL-ECONOMIC THEORIES AND POLICIES

Chapter 1: The Mercantilist Political Economic Model

Chapter 2: Restrictions On Importing Goods Capable Of Domestic Production

Chapter 3: Restrictions On Imports To Correct So-called Disadvantageous Trade Balances

Chapter 4: Tax Refunds On Exports

Chapter 5: Export Subsidies

Chapter 6: Treaties Of Commerce

Chapter 7: Colonies

Chapter 8: The Mercantilist System – Conclusions

Chapter 9: The Agricultural Political Economic Model – The Notion Of Land As The Great Source Of National Wealth

BOOK 5: GOVERNMENT FINANCES – PUBLIC EXPENDITURE, TAXATION AND BORROWING

Chapter 1: Government Expenditure

Chapter 2: The Sources Of General Public Revenues

Chapter 3: Public Debts