Wealth of Nations

Wealth of Nations

Adam Smith

Social Sciences

An Inquiry into the Nature and Causes of the "Wealth of Nations", more commonly known simply as *The Wealth of Nations*, is the most famous work by Adam Smith. Comprising five books (or parts), it was first published in London in March 1776 by the publishing house of William Strahan and Thomas Cadell. A second edition was released in February 1778, followed by three more editions in 1784, 1786, and 1789, the latter being the final edition published during the author's lifetime.

In addition to theoretical analyses on the functioning of so-called commercial societies and issues related to the division of labor, value, income distribution, and capital accumulation, the book offers historical insights and abundant empirical material, marking a turning point in the development of economic thought.

Published in the same year as the United States Declaration of Independence, the work sparked countless controversies and was often interpreted as an unreserved defense of individualism and liberalism, a view encapsulated in the metaphor of the invisible hand. Today, this interpretation is the subject of critique by specialists in Adam Smith's thought.

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