An Inquiry into the Nature and Causes of the Wealth of Nations

The Wealth of Nations was written by the eighteenth-century Scotsman Adam Smith, the “father of modern economics.” It is a foundational treatise in economic thought. It discusses the benefits of the division of labor, competition, and trade. It famously argues that, where markets are competitive, an individual pursuing his or her self-interest, is led by “an invisible hand” to advance the public interest.

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