Drea Knufken
25. The Wealth of Nations
by Adam Smith
1991
First published in 1776, this broad-ranging exploration of commercial and economic first principles laid the philosophical foundations for modern capitalism and the free-market economy. Smith’s central thesis is that capital can best be used to create both individual and national wealth in conditions of minimal government interference. He believed that free-market competition advances both the vitality of commercial activity and the ultimate good of all a nation’s citizens.
