The basic doctrine of An Inquiry into the Nature and Causes of the Wealth of Nations, was that labor is the only source of a nation's wealth. It advocated division of labor in the productive process, emphasized the importance of individual enterprise and argued the benefits of free trade. The true wealth of a nation lay not in gold but in the achievement of an abundance of the necessities of life. It warned against unnecessary …
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showed last 75 words of 845 total
…World History: Patterns in Civilization. ed. Burton F. Beers. Prentice Hall, Englewood Cliffs, NJ. 1993 . Raphael, D.D. Adam Smith. . Three Great Economists : Smith, Malthus, Keynes. Oxford University Press, 1997. Lai, Cheng-Chung. Adam Smith across Nations: Translations and Receptions of the Wealth of Nations. Oxford University Press 1998. Griswold, Charles L. Adam Smith and the Virtues of Enlightenment . Cambridge University Press, 1998. "Adam Smith" City of Edinburgh Council Website. http://www.efr.hw.ac.uk /EDC/edinburghers/adam-smith.html