At a glance:
- Author: Adam Smith
- First Published: 1776
- Genres: Nonfiction, Philosophy, Economics
- Subjects: Capitalism, Labor, Wealth, Commerce, Taxation, Economic policy
The Wealth of Nations was a critique of the existing organization of state controls referred to by social philosopher Adam Smith as mercantilism. Although rudimentary forms of capitalism existed as far back as ancient times, modern capitalism began to unfold in the late Middle Ages with the development of a merchant class. Continued exploration during the next few centuries and the formation of joint-stock companies allowed the development of mercantilism, a state-dominated commercial system that primarily endeavored to use commerce to strengthen state power....
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