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An Inquiry into the Nature and Causes of the Wealth of Nations, Volume II
First published in 1776, the year in which the American Revolution officially began, Smith’s
Wealth of Nations
sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
Criticizing mercantilists who sought to use the state to increase their nations’ supply of precious metals, Smith points out that a nation’s wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man’s social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange.
544 pages, Paperback
First published January 1, 1776
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590 people want to read
About the author
Adam Smith
1,463 books2,303 followersFor other authors of this name, see Adam Smith.
Adam Smith FRSA FRS FRSE was a Scottish philosopher and economist who was a pioneer in thinking on political economy and a key figure during the Scottish Enlightenment. He wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations , is considered his magnum opus and the first modern work that treats economics as a comprehensive system and as an academic discipline.
Authorities recorded his baptism on 16 June 1723 at Kirkcaldy.
https://en.wikipedia.org/wiki/Adam_Smith
Adam Smith FRSA FRS FRSE was a Scottish philosopher and economist who was a pioneer in thinking on political economy and a key figure during the Scottish Enlightenment. He wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations , is considered his magnum opus and the first modern work that treats economics as a comprehensive system and as an academic discipline.
Authorities recorded his baptism on 16 June 1723 at Kirkcaldy.
https://en.wikipedia.org/wiki/Adam_Smith
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Displaying 1 - 10 of 10 reviews
March 4, 2017
These books need to be read by people concerned about the economic paths society has taken. Actually reading Smith is to learn that his ideas are being abused by current economic ideologues who cite him as a model while ignoring all the issues Smith was strongly against and those that do not suit free-market ideology.
Smith would be appalled at current monetary policy, for example, and he believed that unions were the only way that people had a chance in the labour market to withstand the economic might of those who employ labour and wish to do so with as little pay as possible.
Smith would be appalled at current monetary policy, for example, and he believed that unions were the only way that people had a chance in the labour market to withstand the economic might of those who employ labour and wish to do so with as little pay as possible.
January 18, 2026
As bland as the first volume, and somehow expands on its flaws.
I completed this book while sick with a 104 degree fever, and I would rather stay sick than read it again.
Adam Smith doesn’t truly contribute anything meaningful to our understanding of the organization of human society, as many of the principles he outlined throughout both volumes of WON have their roots in far richer and far greater works than his. To give Smith credit for “discovering” economics is like giving a review article from Nature credit for discovering groundbreaking science, he compiled the works and thoughts of others, not his own. For the origins of self interest consider the Confucian or Platonic traditions, for the “invisible hand” you can see hints of it throughout even Cicero’s writings, which had nothing to do with economic theory.
At least Smith beats out Marx only because Marx somehow manages to exude an overbearing materialism where the individual has no worth or meaning.
I completed this book while sick with a 104 degree fever, and I would rather stay sick than read it again.
Adam Smith doesn’t truly contribute anything meaningful to our understanding of the organization of human society, as many of the principles he outlined throughout both volumes of WON have their roots in far richer and far greater works than his. To give Smith credit for “discovering” economics is like giving a review article from Nature credit for discovering groundbreaking science, he compiled the works and thoughts of others, not his own. For the origins of self interest consider the Confucian or Platonic traditions, for the “invisible hand” you can see hints of it throughout even Cicero’s writings, which had nothing to do with economic theory.
At least Smith beats out Marx only because Marx somehow manages to exude an overbearing materialism where the individual has no worth or meaning.
June 10, 2019
This is a very valuable book for me, the most attractive thing for me was on how you can measure the value of any country, it's not only by gold or liquidity, it's by the imports and exports plus the national productivity and GDP.
In the book, the author consists that people were born with the mentality of trade and exchange for good, but when the humanity started to have countries and governments, things started to change to see the role of each part of them, gouverments role is only to make sure that all is going good with the regulation without a direct effect by its side, it can't be a huge part of the economy.
Another point the author talked about is how to measure the value of anything in our life ( usable or transferable ) plus how we should divide the work by putting the specialist in their own roles in the best time to get the best results.
In the book, the author consists that people were born with the mentality of trade and exchange for good, but when the humanity started to have countries and governments, things started to change to see the role of each part of them, gouverments role is only to make sure that all is going good with the regulation without a direct effect by its side, it can't be a huge part of the economy.
Another point the author talked about is how to measure the value of anything in our life ( usable or transferable ) plus how we should divide the work by putting the specialist in their own roles in the best time to get the best results.
November 11, 2017
Read it to vet the deception in rhetoric:-
The Wealth of Nations almost sparked a revolution in its time 1776. Adam Smith is considered the father of modern economics. I read this book for researching economics which started merely as an art, and is now a cryptic science ,the very foundation of "business". Book is artfully written. it is a weaving of words to cast a spell .
This book was supposed to be an intellectual attempt to appeal people's sense of morality , communal harmony etc to get the to move from self sufficiency (of growing their own food) to mass production environments. One of several attempts made by various prominent public figures to re engineer society.
In these these works he seduces the reader by discussing the appropriate roles of government, namely defense, justice, the creation and maintenance of public works that contribute to commerce, education, the maintenance of the “dignity of the sovereign" These executive arms ought to be funded by "fair and clear" taxation.
The Wealth of Nations almost sparked a revolution in its time 1776. Adam Smith is considered the father of modern economics. I read this book for researching economics which started merely as an art, and is now a cryptic science ,the very foundation of "business". Book is artfully written. it is a weaving of words to cast a spell .
This book was supposed to be an intellectual attempt to appeal people's sense of morality , communal harmony etc to get the to move from self sufficiency (of growing their own food) to mass production environments. One of several attempts made by various prominent public figures to re engineer society.
In these these works he seduces the reader by discussing the appropriate roles of government, namely defense, justice, the creation and maintenance of public works that contribute to commerce, education, the maintenance of the “dignity of the sovereign" These executive arms ought to be funded by "fair and clear" taxation.
March 31, 2019
Brilliant, yet wordy by today's standards.
August 2, 2019
Highly competitive in its economic ideas. Rated 4 stars since some of the discussions are not directly relevant to the modern world. But otherwise very insightful to it's own time.
November 7, 2024
This was a great way to learn about the subject, without reading his complete writings. This audio version was presented in a commentary format on each principles, with the principles itself being presented with a Scottish brogue, which was quite enjoyable to listen to. It was also interesting to find out how broad and interrelated the various principles are. I highly recommend this audio book to anyone who is curious about our economic system.
April 22, 2014
Many great economists of today write with a flair of sensationalism for show-business. Hence, I personally regard Keynes, Hayek, Marx, and Smith as economists who've offered future generations with the most prized economic theories and solutions, much of which continue to form the underlying basis and platform for current economists' thought-leadership.
July 28, 2023
My review of the whole book (volume I and II): https://www.goodreads.com/review/show...
And of just volume I: https://www.goodreads.com/review/show...
And of just volume I: https://www.goodreads.com/review/show...
August 7, 2014
used audiobook
Displaying 1 - 10 of 10 reviews