The Wealth of Nations

An easier-to read, moderately abridged, current language version of the 1776 classic.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 ForewordAuthor’s IntroductionBOOK 1: INDUSTRIAL PRODUCTION, DISTRIBUTION AND INCOMESChapter 1: Industrial SpecializationChapter 2: The Origins Of Industrial SpecializationChapter 3: The Extent Of The Market Limits SpecializationChapter 4: The Origins And Use Of MoneyChapter 5: The Real Economic And Nominal Monetary Prices Of GoodsChapter 6: Supply Prices, Production Costs And IncomesChapter 7: The Natural And Market Prices Of ProductsChapter 8: The Wages Of LabourChapter 9: The Profits Of CapitalChapter 10: Wages And Profits In Different TradesChapter 11: The Rent Of LandBOOK 2: CAPITAL – ITS NATURE, ACCUMULATION AND USESChapter 1: Different Types Of CapitalChapter 2: Monetary CapitalChapter 3: The Accumulation Of CapitalChapter 4: Capital Lent At InterestChapter 5: The Different Uses Of CapitalBOOK 3: NATIONAL ECONOMIC GROWTH AND PERFORMANCE DIFFERENCESChapter 1: The Natural Process Of Economic GrowthChapter 2: The Discouragement Of Agriculture In Europe After The Fall Of The Roman EmpireChapter 3: Urban Growth And Manufacturing After The Fall Of The Roman EmpireChapter 4: The Contribution Of Urban Industry And Commerce To Rural EconomiesBOOK 4: POLITICAL-ECONOMIC THEORIES AND POLICIESChapter 1: The Mercantilist Political Economic ModelChapter 2: Restrictions On Importing Goods Capable Of Domestic ProductionChapter 3: Restrictions On Imports To Correct So-called Disadvantageous Trade BalancesChapter 4: Tax Refunds On ExportsChapter 5: Export SubsidiesChapter 6: Treaties Of CommerceChapter 7: ColoniesChapter 8: The Mercantilist System – ConclusionsChapter 9: The Agricultural Political Economic Model – The Notion Of Land As The Great Source Of National WealthBOOK 5: GOVERNMENT FINANCES – PUBLIC EXPENDITURE, TAXATION AND BORROWINGChapter 1: Government ExpenditureChapter 2: The Sources Of General Public RevenuesChapter 3: Public Debts