Adam Smith

Smith's "Lectures on Jurisprudence", originally delivered at Glasgow University in 1762-1763, presents his "theory of the rules by which civil government ought to be directed". Building on his "Theory of Moral Sentiments", Smith argues that the state must act as an impartial spectator, judging when an individual has been injured, Thus, regulations concerning trade, commerce, and production must be crafted so as to encourage rather than interfere with other productive capacities.

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. Criticising 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. Social and economic order arise from the natural desires to better one's (and one's family's) lot and to gain the praise and avoid the censure of one's neighbors and business associates. Individuals behave decently and honestly because it gives them a clear conscience as well as the good reputation necessary for public approbation and sustained, profitable business relations.

Reflecting Adam Smith's wide learning and varied interests, these essays shed considerable light on his place in the Scottish Enlightenment. Included are histories of astronomy, ancient logic, and ancient physics; essays on the "imitative" arts and the affinity between music, dancing, and poetry; and a critical review of Samuel Johnson's famous Dictionary. which Smith originally published in the Edinburgh Review (1755-56).

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. Smith's theories of capital accumulation, growth, and secular change, among others, continue to be influential in modern economics. This reprint of Edwin Cannan's definitive 1904 edition of The Wealth of Nations includes Cannan's famous introduction, notes, and a full index, as well as a new preface written especially for this edition by the distinguished economist George J. Stigler. Mr. Stigler's preface will be of value for anyone wishing to see the contemporary relevance of Adam Smith's thought.

Discusses the human factor in big business and offers behavioral studies of the professionals and amateurs of Wall Street

A scholarly edition of a work by Adam Smith. The edition presents an authoritative text, together with an introduction, commentary notes, and scholarly apparatus.

The complete five unabridged books of The Wealth of Nations by Adam Smith. This epic collection of economic ideas show that people and free markets drive improvements, not governments and regulation. First published the same year as the Declaration of Independence in 1776, it became a prescient blueprint for the new United States of America. No student of thought should be without this historic book. This classic volume is provided here with full text at an affordable price.

The complete five unabridged books of The Wealth of Nations by Adam Smith. This epic collection of economic ideas show that people and free markets drive improvements, not governments and regulation. First published the same year as the Declaration of Independence in 1776, it became a prescient blueprint for the new United States of America. No student of thought should be without this historic book. This classic volume is provided here with full text at an affordable price.