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Adam Smith's masterpiece, first published in 1776, is the

foundation of modern economic thought and remains the single most

important account of the rise of, and the principles behind, modern

capitalism. Written in clear and incisive prose, The Wealth of

Nati*** articulates the concepts indispensable to an understanding

of contemporary society; and Robert Reich's new Introduction for

this edition both clarifies Smith's ***yses and illuminates his

overall relevance to the world in which we live. As Reich writes,

"Smith's mind ranged over issues as fresh and topical today as they

were in the late eighteenth century--jobs, wages, politics,

government, trade, education, business, and ethics."

BIOGRAPHICAL NOTE

INTRODUCTION BY ROBERT REICH

INTRODUCTION AND PLAN OF THE WORK

BOOK I

Of the Causes of Improvement in the productive Powers of Labour,and

of the Order according to which its Produce is naturallydistributed

among the different Ranks of the People

CHAPTER I

Of the Division of Labour

CHAPTER II

Of the Principle which gives Occasion to the Division of

Labour

CHAPTER III

That the Division of Labour is limited by the Extent of the

Market

CHAPTER 1V

Of the Origin and Use of Money

CHAPTER V

Of the real and nominal Price of Commodities, or of their Pricein

Labour, and their Price in Money

CHAPTER VI

Of the component Parts of the Price of Commodities

CHAPTER VII

Of the natural and market Price of Commodities

CHAPTER VIII

Of the Wages of Labour

……

Adam Smith was born in a small village in Kirkcaldy, Scotland in

1723. He entered the University of Glasgow at age fourteen, and

later attended Balliol College at Oxford. After lecturing for a

period, he held several teaching positi*** at Glasgow University.

His greatest achievement was writing The Wealth of Nati***

(1776), a five-book series that sought to expose the true causes of

prosperity, and installed him as the father of contemporary

economic thought. He died in Edinburgh on July 19, 1790.

From the Hardcover edition.

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