Properly titled An Inquiry into the Nature and Causes of the Wealth of Nations, this fundamental economic opus is the work of brilliant Scottish polymath, Adam Smith. Published in 1776 at the beginning of the Industrial Revolution, The Wealth of Nations describes the classical liberal, capitalist economy as a largely self-maintaining economic model built on free enterprise and individual pursuits of self-interest.
Smith's work is canonical, but a surprise nevertheless. This encyclopedic monster often reads like an in-depth high-school economics text book. But the dry writing (or dry translation of the writing) masks lots of fascinating bites, like Smith's views on colonialism and slavery, for example. He kicks off by crediting the development of the division of labor as the greatest single factor in nations' increasing productivity.
That one man could organize his thoughts and lay them out like this is a marvel. Nothing short of incredible.
The Wealth of Nations is the cornerstone of modern conservative free-market philosophy. I read a two-volume set produced by a private foundation called Liberty Fund, which, according to their website, seeks "to encourage the study of the ideal of a society of free and responsible individuals. The Foundation (sic) develops, supervises, and finances its own educational activities to foster thought and encourage discourse on enduring issues pertaining to liberty."
