The Wealth of Nations (Bantam Classics) (Mass Market Paperback)

by Adam Smith (Author), Alan B. Krueger (Introduction)

Editorial Reviews

Review
"Adam Smith's enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things."
--Robert L. Heilbroner


From the Trade Paperback edition. -- Review

Review
"Adam Smith's enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things."
--Robert L. Heilbroner


From the Trade Paperback edition.

See all Editorial Reviews

Product Details

• Mass Market Paperback: 1264 pages
• Publisher: Bantam Classics (March 4, 2003)
• Language: English
• ISBN-10: 0553585975
• ISBN-13: 978-0553585971
• Product Dimensions: 6.9 x 4.1 x 2.3 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars See all reviews (31 customer reviews)
• Amazon.com Sales Rank: #791 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

134 of 136 people found the following review helpful:

5.0 out of 5 stars Go with Bantam, February 11, 2007

By	Amazonian (Los Angeles, CA) - See all my reviews

If you're wondering which Wealth of Nations to purchase, get the Bantam paperback. This is Smith's complete and unabridged final version of the Wealth of Nations. It provides footnotes on Smith's wording, the historical context, and the differences between Smith's 5th edition and previous editions. In addition, the margin of the pages contain useful notes which summarize Smith's writing. For the price, this is clearly the superior choice.

Now, if you're wondering whether you should undertake such an endeavor, let me just say that Adam Smith was a professor of rhetoric. He explains everything so precisely, yet so comprehensible. Smith's writing is by no means difficult; I actually found it a surprisingly easy read given its antique nature. Once you get through the first chapter, you get quite used to Smith's writing style. If you put adequate time and energy into it, it's not hard at all.

123 of 131 people found the following review helpful:

5.0 out of 5 stars Foundations of micro and macroeconomics, July 6, 2005

By	Rehan Dost (Canada) - See all my reviews (REAL NAME)

Using a vast historical database and plenty of everyday examples Adam Smith lays the foundations of modern economics without the formalization which would come later.

He starts by exploring the need for specialization of labour once societies advance beyond the hunter gatherer phase. As a result each individual is incapable of sustaining his basic needs and thus must purchase these using his labour which Smith views as the source of all value. As a result demand and supply is created for such labour.

He makes the natural assumption that each individual pursues their best interests.

He foreshadows the concepts of marginal utility and scarcity in determining the shapes of demand curves for commodities. ( He never actually mentions curves ).

Similarly, he describes the three factors determining supply prices for commodities ( rent of land, wages and capital costs ) and the various factors which influence them ( the equivalent of modern supply/demand curves for each factor ).

He puts these together under ideal circumstances to show how supply and demand meet to clear markets ( equilibrium in modern language ).

He then turns to macroeconomics laying the foundations for GDP and shows how capital can be distributed to "unproductive labour" ( that labour used to maintain productive labour ) such as doctors lawyer entertainers etc and "productive labour" ( that labour used in the manufacture and distribution of raw and finished products ). He explores the consequences of various distribution of each from both the micro and macroeconomic perspective.

He concludes by emphasizing the importance of government in providing international and domestic security as well as providing public works and institutions especially education.

Naturally this requires state revenue and he devotes almost one entire "book" to taxes.

He delves briefly into political economy especially merchantilism and it's detrimental effects to society at large.

A great introduction to modern economics that is often missed in didactic lectures. This book gives the motivation for many modern economic concepts that is often lost in mathematical formalism.

46 of 51 people found the following review helpful:

5.0 out of 5 stars Put on top of your reading list., July 2, 2006

By	Eduardo G. Veiga (Baltimore, MD United States) - See all my reviews (REAL NAME)

A classic... mandatory but pleasant reading if you are into Economics... not boring despite the size. Read with a pencil handy to highlight the too many good quotes. Get the Bantam Classics edition--cheap, small and unabridged (doesn't get much better than this). Mind boggling how good Adam Smith is.