Adam Smith and the Wealth of Nations: The Discovery of Capitalism and Its Limits

This book explores Adam Smith's interest in the science of the legislator and his criticism of the mercantile system and the political dimension of capitalism. It also highlights his belief that the mercantile system was a viable, if dangerous, economic model and discusses the institutions he saw as necessary to transform it into a system of natural freedom. It is relevant to students and researchers interested in the history of economic thought.

Format: Paperback / softback
Length: 258 pages
Publication date: 09 October 2022
Publisher: Springer Nature Switzerland AG

This book delves into the profound examination of Adam Smith's intellectual pursuits and his unwavering fascination with the science of legislation. It sheds light on Smith's critical analysis of the mercantile system and its profound political implications. Furthermore, the book provides valuable insights into the institutions that Smith believed were essential in transforming the mercantile system into a system of natural freedom. Through a meticulous analysis of Smith's insights into the political threats posed by capital accumulation and the escalating inequality, the book highlights the pivotal moment when Smith recognized the inherent characteristics of capitalism.

The Wealth of Nations, a seminal work by Adam Smith, has played a pivotal role in shaping economic thought and policy. In this book, Smith explores the viability and dangers of the mercantile system, a dominant economic model during his time. He critically examines the system's shortcomings and proposes reforms to mitigate its negative effects. Smith's insights into the political dimensions of capitalism are particularly noteworthy, as he recognizes the potential for wealth and power to be concentrated in the hands of a few individuals, leading to social and economic inequality.

Furthermore, Smith's belief in the importance of government intervention to promote social welfare and ensure fair competition is evident in his advocacy for policies such as taxation, regulation, and public education. He argues that these measures are necessary to prevent the exploitation of workers and promote economic growth and stability. Smith's ideas continue to resonate in contemporary discussions about economic policy and inequality, making his work a valuable resource for students and researchers interested in the history of economic thought.

Weight: 369g
Dimension: 210 x 148 (mm)
ISBN-13: 9783030816025
Edition number: 1st ed. 2021