Essays on Wealth of Nation

Adam Smith’s work The Wealth of Nations has given him an association with capitalism and the invisible hand that guides individuals in economic activities. This invisible hand is both local in nature for the benefit of the individual and the community as a whole. He...

Since the beginning of time, mankind has always employed a system of trade among each other, in order to acquire materials, services, or goods. Many systems of trade exist today, aging from the historic barter system, in which goods and/or services are directly exchange for...

In the first book of The Wealth of Nations, Adam Smith discusses the Variations in the Proportion between the respective Values of Gold and Silver. Throughout history, these two metals have been regarded as mints of significant value. Before mines were found in America, the...

Adam Smith, whose Wealth of Nations was published in 1776, was the father of modern economics and capitalism. He argued, that the free operation of market forces was the best recipe for a flourishing and growing economy. If everyone is as free as possible to...

Introduction Early Life On June 5, 1723 Adam Smith was born, at Kirkcaldy, Scotland. His father was advocate, solicitor and prosecutor by profession. Burgh School of Kirkcaldy was one of the best schools in Scotland and there he learnt writing, mathematics and history. At the...