THE ORIGINALS THE WEALTH OF NATIONS

by ADAM SMITH,

ISBN:	9789353764333
Book Name:	THE ORIGINALS THE WEALTH OF NATIONS
Author:	ADAM SMITH,
Publisher:	OM BOOKS INTERNATIONAL
Edition:	FIRST
Language:	English
Binding:	Paper Back
Publish Year:	2021
Total Pages:	984
Availablity:	Out of Stock Notify me

NPR 632.00

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BOOK SUMMARY

It is not from the benevolence of the butcher, the brewer, or the Baker that we expect our dinner, but from their regard to their own interest. Scottish political economist and philosopher Adam Smith (1723–1790) is considered the father of modern economics. His influential book, The wealth of Nations, is the first great work in political economy. In it, Smith argues against regulations on commerce and calls for a limited role of the Government. The market economy is to be kept open and free if nations are to prosper, and the government’s core functions must be to maintain law and order, defence, build infrastructure, and promote education. Smith is critical of government control, but not an advocate of laissez-faire. He believes that the market economy can function only when rules are adhered to. Hence the government’s role in maintaining the rule of law is critical. The wealth of Nations, written before the industrial Revolution transformed the world, resonates with readers in modern times and offers valuable lessons in solving the economic conundrums of the day.

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