wealth of nations
Economic output total
The Wealth of Nations, published in 1776 by Scottish philosopher Adam Smith, is a foundational text of modern economics.
Its full title is "An Inquiry into the Nature and Causes of the Wealth of Nations." The work argues that free markets, division of labor, and self-interest collectively promote economic prosperity more effectively than government intervention.
References to the wealth of nations in lowercase typically invoke Smith's broader ideas about what makes economies flourish rather than the specific book.
- human capitalWorkers' skills and knowledge
- capitalismPrivate profit-based economy
- gross domestic productTotal national economic output
- natural resourcesUseful substances from nature
- globalizationWorldwide economic and cultural integration
division of labor · invisible hand · laissez faire · free markets · market forces · tariffs · free trade · wages · regulation · specialization · productive labor · exports · supply and demand · taxation policy · Adam Smith · investment · welfare state · imports
wealth of nationsDas Kapital
Foundational socialist economic critique
The Communist Manifesto · Marxist economics · socialism · communism · Marxism
wealth of nationsunderdevelopment
Inadequate economic or social progress
economic collapse · failed states · economic stagnation · scarcity · austerity
wealth, nation, wealthy, wealthier, wealthiest, nations, national, nationally, nationalism