Adam Smith

The Invisible Hand of the Market: The Theory of Moral Sentiments + The Wealth of Nations (eBook, ePUB)

2 Pioneering Studies of Capitalism

• Format: ePub

Produktbeschreibung

Adam Smith's seminal works, 'The Theory of Moral Sentiments' and 'The Wealth of Nations,' are combined in this comprehensive ebook to present the full breadth of his groundbreaking ideas on capitalism and economic behavior, essential for understanding modern market dynamics. Smith's literary prowess is showcased by his fluent prose and persuasive argumentation, elements that made his concepts resonate across the centuries. His deftly coined metaphor, the 'invisible hand of the market,' epitomizes the unintended social benefits of individual self-interested actions-a revolutionary idea that is couched within a broader economic and philosophical framework, and has steered much of economic thought since. Smith's discussion of the invisible hand, evolving from ethical underpinnings to firmly root in market mechanics, provides crucial literary context to the evolution of capitalist theory. Smith, a moral philosopher by training, was profoundly influenced by the economic theories of the French Physiocrats as well as the work of Richard Cantillon. His extensive scholarship is evident in the analytical depth he applies to socio-economic systems, a reflection of years of study and contemplation. The fusion of moral philosophy and economic analysis led Smith to articulate a vision of a self-regulating economy, one where individual ambition serves the collective good, a conceptual leap far ahead of his time. Smith's personal experiences and the intellectual milieu of the Scottish Enlightenment were undoubtedly pivotal in shaping his discourse on moral psychology and its connection to economic prosperity, making his insights exceptionally prescient for an 18th-century scholar. 'The Invisible Hand of the Market: The Theory of Moral Sentiments + The Wealth of Nations' is indispensable for students, academics, and enthusiasts of economics, philosophy, and history alike. Smith's influential treatises remain foundational to our understanding of free-market mechanisms and their roles in shaping societies. This book, with its detailed table of contents and seamless adaptation for the eReader, offers an accessible path to delve into Smith's celebrated oeuvre. Readers seeking to grasp the roots of capitalist thought and its ethical dimensions will find Smith's works as illuminating and relevant today as they were at the time of their conception.

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Produktdetails

• Verlag: DigiCat
• Seitenzahl: 477
• Erscheinungstermin: 1. Januar 2024
• Englisch
• ISBN-13: 8596547771005
• Artikelnr.: 69560004

Autorenporträt

Adam Smith (1723-1790) was a Scottish economist, philosopher, and pioneering moral philosopher who laid the foundations for classical free-market economic theory. Smith is best known for his two seminal works, 'The Theory of Moral Sentiments' published in 1759 and 'An Inquiry into the Nature and Causes of the Wealth of Nations' commonly abbreviated as 'The Wealth of Nations,' published in 1776. The former book delved into the nature of morality, exploring the role of sympathy in human relationships and the ethical implications of various actions. It displayed his capacity to eloquently examine the ethical considerations underpinning society and the economy. His latter magnum opus, 'The Wealth of Nations,' revolutionized economics by introducing concepts such as the division of labor, productivity, and free markets. It is within this text that the phrase 'the invisible hand' is often attributed to him, describing the self-regulating behavior of the marketplace as individual pursuits for wealth aggregate to the collective benefit of society. His works, together, offer a comprehensive discourse on economic and social organization, reflecting his profoundly influential Enlightenment-era ideas. Smith's contributions have solidified his place as a canonical figure in the development of modern economic theory and moral philosophy (Smith, A. 'The Theory of Moral Sentiments', 1759; Smith, A. 'An Inquiry into the Nature and Causes of the Wealth of Nations', 1776).