The Wealth of Nations: Books I-IIISmith's THE WEALTH OF NATIONS was the first comprehensive treatment of political economy. Originally delivered in the form of lectures at Glasgow, the book's publication in 1776 co-incided with America's Declaration of Independence. These volumes include Smith's assessment of the mercantile system, his advocacy of the freedom of commerce and industry, and his famous prophecy that "America will be one of the foremost nations of the world". |
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according advantage afford agriculture altogether ancient annual produce appear average bank become called capital carried cattle century circulation coin colonies commerce commodities commonly consequence considerable considered consumed consumption continually corn cultivation demand effect employed employment England equal established Europe exchange expense farmer foreign four frequently give gold and silver gradually greater hands hundred immediate important improvement increase industry inhabitants interest Italy kind labour land landlord less maintain manner manufactures master materials means merchant metals mines naturally nearly necessarily necessary never notes observed occasion operation ordinary originally paid particular perhaps period person pounds present probably produce profit proportion proprietor provisions purchase quantity raise regulated rent require rise rude Scotland seems shillings Smith society sometimes sort subsistence sufficient supply supposed things thousand town trade wages wealth whole