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The Wealth of Nations
''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the ''magnum opus'' of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets.
==History==
''The Wealth of Nations'' was published 9 March 1776, during the Scottish Enlightenment and the Scottish Agricultural Revolution.〔See , (volume 2 ) via Google Books〕 It influenced a number of authors and economists, as well as governments and organizations. For example, Alexander Hamilton was influenced in part by ''The Wealth of Nations'' to write his ''Report on Manufactures'', in which he argued against many of Smith's policies. Interestingly, Hamilton based much of this report on the ideas of Jean-Baptiste Colbert, and it was, in part, Colbert's ideas that Smith responded to with ''The Wealth of Nations.''
Many other authors were influenced by the book and used it as a starting point in their own work, including Jean-Baptiste Say, David Ricardo, Thomas Malthus and, later, Ludwig von Mises. The Russian national poet Aleksandr Pushkin refers to ''The Wealth of Nations'' in his 1833 verse-novel Eugene Onegin.
The Wealth of Nations was the product of seventeen years of notes, and observation of conversation among economists of the time concerning economic and societal conditions during the beginning of the Industrial Revolution, and took Smith ten years to produce. The result, An Inquiry to the Wealth of Nations, was a treatise which sought to offer a practical application for reformed economic theory to replace the mercantilist and physiocratic economic theories that were becoming less relevant in the time of industrial progress and innovation. It provided the foundation for new economists, politicians, mathematicians, biologists, and thinkers of all fields to build upon. Irrespective of historical influence, ''The Wealth of Nations'' represented a clear shift in the field of economics, comparable to Sir Isaac Newton's ''Principia Mathematica'' for physics, Antoine Lavoisier's ''Traité Élémentaire de Chimie'' for chemistry, or Charles Darwin's ''On the Origin of Species'' for biology.
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