Adam Smiths Wealth of Nations (The full title is An Inquiry into the Nature and Causes of the Wealth of Nations) is considered a seminal text of economic theory. Unfortunately, too few people have ever read the entire thing, because it is well overMoreAdam Smiths Wealth of Nations (The full title is An Inquiry into the Nature and Causes of the Wealth of Nations) is considered a seminal text of economic theory. Unfortunately, too few people have ever read the entire thing, because it is well over 1000 pages long, and written in dry, 18th Century language.Jonathan Kolber has undertaken the monumental task of translating Smiths text into 21st Century language, while keeping the structure and sense of his arguments intact.
Further, he has scrupulously limited his own comments to the endnotes, so the reader can be assured that anything in the text is reflective of Smiths original.Smith divided his work into five books. Adam Smiths Wealth of Nations: A 21st Century Translation and Commentary is also divided into five books, plus three appendices. The entire work is available in a single volume, or readers can purchase individual books.Book 1: How Labor Drives Progress was originally titled by Smith Book I: Of the Causes of Improvement in the Productive Powers of Labor, and of the Order According to Which Its Produce Is Naturally Distributed Among the Different Ranks of the People.This book consists of an Introduction and eleven chapters.
Chapters 1 – 7 introduce essential components of markets and productivity. Chapters 8 – 10 explore labor and investment more deeply. Chapter 11 closely considers productivity and its improvement.IntroductionChapter 1: What Makes Labor More Productive?Chapter 2.
Specialization and BarterChapter 3. The Evolution of MarketsChapter 4. Money and PricesChapter 5. The Relationship between Commodities and LaborChapter 6. How Revenues and Prices are DeterminedChapter 7. Natural vs. Relative PricesChapter 8. Deepening Our Understanding of LaborChapter 9. Deepening Our Understanding of InvestmentChapter 10.
Comparisons of Labor and Investment. . . Part 1. Differences Due to Circumstances of Employment. . . Part 2. Inequalities Due to RegulationChapter 11. Property, Products, Improvements and Society. . . Part 1. Production That Always Pays Rent. . . Part 2. Production That Sometimes Pays Rent. . . Part 3. Production That Pays Rent Only After Improvements Are Made. . . Part 4. The Relationships of the Three Economic Classes to SocietyEndnotes