The Wealth of Nations

The foundation for all modern economic thought and political economy, "The Wealth of Nations" is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words. Smith details his argument in the following five books:



Introduction and plan of the work



Part 1 Of the Causes of Improvement in the productive Powers of Labour, and of the Order according to which its Produce is naturally distributed among the different Ranks of the People



Chapter 1 Of the Division of Labour

Chapter 2 Of the Principle which gives Occasion to the Division of Labour

Chapter 3 That the Division of Labour is limited by the Extent of the Market

Chapter 4 Of the Origin and Use of Money

Chapter 5 Of the real and nominal Price of Commodities, or of their Price in Labour, and their Price in Money

Chapter 6 Of the component Parts of the Price of Commodities

Chapter 7 Of the natural and market Price of Commodities

Chapter 8 Of the Wages of Labour

Chapter 9 Of the Profits of Stock

Chapter 10 Of Wages and Profit in the different Employments of Labour and Stock

Chapter 11 Of the Rent of Land

1. First Period

2. Second Period

3. Third Period

4. First Sort

5. Second Sort

6. Third Sort

7. Conclusion of the chapter



Part 2 Of the Nature, Accumulation, and Employment of Stock



Chapter 1 Of the Division of Stock

Chapter 2 Of Money considered as a particular Branch of the general Stock of the Society, or of the Experience of maintaining the National Capital

Chapter 3 Of the Accumulation of Capital, or of productive and unproductive Labour

Chapter 4 Of Stock lent at Interest

Chapter 5 Of the different Employment of Capitals



Part 3 Of the different Progress of Opulence in different Nations



Chapter 1 Of the Natural Progress of Opulence

Chapter 2 Of the Discouragement of Agriculture in the ancient State of Europe after the Fall of the Roman Empire

Chapter 3 Of the Rise and Progress of Cities and Towns, after the Fall of the Roman Empire

Chapter 4 How the Commerce of the Towns contributed to the Improvement of the Country



Part 4 Of Systems of political Economy



Chapter 1 Of the Principle of the commercial, or mercantile System

Chapter 2 Of Restraints upon the Importation from foreign Countries of such Goods as can be produced at Home

Chapter 3 Of the extraordinary Restraints upon the Importation of Goods of almost all Kinds, from those Countries with which the Balance is supposed to be disadvantageous

1. Of the Unreasonableness of those Restraints even upon the Principles of the Commercial System

2. Of the Unreasonableness of those extraordinary Restraints upon other Principles

Chapter 4 Of Drawbacks

Chapter 5 Of Bounties

Chapter 6 Of Treaties of Commerce

Chapter 7 Of Colonies

1. Of the Motives for establishing new Colonies

2. Causes of Prosperity of New Colonies

3. Of the Advantages which Europe has derived from the Discovery of America, and from that of a Passage to the East Indies by the Cape of Good Hope

Chapter 8 Conclusion of the Mercantile System

Chapter 9 Of the Agricultural Systems, or of those Systems of Political Economy, which represent the Produce of Land, as either the sole or the principal Source of the Revenue and Wealth of every Country



Part 5 Of the Revenue of the Sovereign or Commonwealth



Chapter 1 Of the Expences of the Sovereign or Commonwealth

1. Of the Expense of Defence

2. Of the Expense of Justice

3. Of the Expense of Public Works and Public Institutions

4. Of the Expense of Supporting the Dignity of the Sovereign

5. Conclusion

Chapter 2 Of the Sources of the general or public Revenue of the Society

1. Of the Funds or Sources of Revenue which may peculiarly belong to the Sovereign or Commonwealth

2. Of Taxes

Chapter 3 Of public Debts

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