... from it a revolutionary doctrine. The resulting masterpiece is the most influential book about economics ever published. Remarkably, much of it speaks directly to questions that are still of pressing concern. Smith's major thesis in the WEALTH OF NATIONS was that, except for limited functions (defense, justice, certain public works), the state should refrain from interfering with the economic life of a nation. Another ... rival followed, fully realizing the profitability of cooperation. This suggest that businessmen pursuing their own interest are led by an 'invisible hand' to advance t...

• Word Count: 2798
• Approx Pages: 11
• Grade Level: High School

... recommendations. This book was revolutionary for its own reasons. It was the first serious attempt in the history of economic thought to separate the study of political economy from the related fields of political science, ethics, and jurisprudence. The central thesis of An Inquiry into the Nature and Causes of The Wealth of Nations is that capital is best employed for the ... why the government should maintain a laissez-faire attitude toward commercial endeavors. Adam Smith states, "every individual necessarily labors to render the annual revenue of the society as great as he can. He g...

• Word Count: 3887
• Approx Pages: 16