The Wealth of Nations

An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith (1776)

The invisible hand, the division of labor, free markets, and the self-interest that drives economic prosperity. The book that invented modern economics and shaped the modern world.

Historical Significance:
Adam Smith, a Scottish moral philosopher, published The Wealth of Nations on March 9, 1776 — the same year as the American Declaration of Independence, and the two documents share a revolutionary spirit. Smith argued that national wealth comes not from hoarding gold (mercantilism) but from the productive labor of free individuals pursuing their own interests in competitive markets. His "invisible hand" metaphor — that individual self-interest inadvertently serves the public good — became the foundational principle of capitalism. The book influenced every subsequent economist from Ricardo to Marx to Keynes to Friedman. It remains the most important economics text ever written.

This public domain classic was originally published in 1776. Free to read and share.