Adam Smith Wealth of Nations

An Inquiry into the Nature and Causes of the Wealth of Nations is one of the most important and influential works ever published on economic theory and is the foundation of classical economics. In it, Adam Smith stresses the importance of the division of labor to economic progress. He criticizes the arguments for economic planning and offers a detailed theoretical and historical case for free trade.

Adam Smith's The Wealth of Nations was recognized as a landmark of human thought upon its publication in 1776. As the first scientific argument for the principles of political economy, it is the point of departure for all subsequent economic thought.