Invisible..

 

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

, commonly known as The Wealth of Nations, is a foundational work of classical economics published by Scottish philosopher Adam Smith on March 9, 1776. 

It is widely considered the "bible of capitalism," as it provided the first comprehensive system of political economy and established economics as a modern academic discipline. 

The book introduces several revolutionary concepts that still underpin modern economic thought: 

• The Invisible Hand: Smith's most famous metaphor, suggesting that individuals pursuing their own self-interest unintentionally promote the good of society through market competition.
• Division of Labor: Smith argued that breaking production into specialized tasks (using his famous pin factory example) drastically increases productivity.
• Free Markets (Laissez-faire): He advocated for minimal government intervention in the economy, suggesting that markets are self-regulating through supply and demand.
• Critique of Mercantilism: Smith attacked the then-prevalent view that a nation's wealth was measured by its gold and silver reserves. Instead, he argued that wealth is the total production of goods and services (equivalent to modern GDP).

Originally published in two volumes, the treatise consists of five individual books: