The Wealth of Nations

3 July 2026 · 1 min read

The Wealth of Nations - Adam Smith's classic work deciphers the origins of wealth, the division of labor, and economic growth.

Originating from the division of labor and rural-urban relations.
Investment followed the order: agriculture → industry → foreign trade.
Cities expanded markets, reclaimed land, and provided security/freedom.
Criticism and the accumulation of gold and silver were criticized; protectionism and monopolies were also condemned.
New discoveries/market expansion boosted industry; colonies both helped and hindered it.

#classical economics#my favorite books