The Wealth of Nations: Books I-III

Also known as An Inquiry into the Nature and Causes of the Wealth of Nations, this 1776 book is the most important work of Scottish economist and philosopher Adam Smith. Produced over 10 years and first published in two volumes, this book defines the creation of wealth through the intersection of self-interest and societal benefit.

The Wealth of Nations is an influential economic text that shaped Karl Marx and Alexander Hamilton, among others. It's concerned with economic and social conditions in the mid to late 1700s and functions as a practical application for reformed economic theory. As a fundamental work of classical economics, it offers powerful insights into the Industrial Revolution, the division of labor, and the nature of free markets.

This book narrates the final phases of the mercantilist system, which was replaced by the more efficient and growth-oriented industrialized capitalist system. At the time, it represented a clear and obvious paradigm shift in the field of economics. The Wealth of Nations is an ambitious text that seeks to define the benefits of a mutual economic web and free market mechanism that lies beyond the constraints of government interference.

This work has been spilt into two volumes, the first consisting of Books I-III, and the second consisting of Books IV-V.