{"product_id":"the-wealth-of-nations-modern-library","title":"The Wealth of Nations (Modern Library)","description":"\u003cp\u003eFirst published in 1776  The Wealth of Nations is generally regarded as the foundation of contemporary economic thought. Adam Smith  a Scottish professor of moral philosophy  expounded the then-revolutionary doctrine of economic liberalism. The books importance was immediately recognized by Smiths peers  and later economists have shown an unusual consensus in their admiration for his ideas.  Combining economics  political theory  history  philosophy  and practical programs  Smith assumes that human self-interest is the basic psychological drive behind economics and that a natural order in the universe makes all the individual  self-interested strivings add up to the social good. His conclusion  that the best program is to leave the economic process alone and that government is useful only as an agent to preserve order and to perform routine functions  is now known as laissez-faire economics or noninterventionism.  In noting for the first time the significance of the division of labor and by stating the hypothesis that a commoditys value correlates to its labor input  Smith anticipated the writings of Karl Marx. Like Marxs Das Capital and Machiavellis The Prince  his great book marked the dawning of a new historical epoch.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":44945265098805,"sku":"ByrdShop_0679424733","price":37.69,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780679424734.jpg?v=1769880442","url":"https:\/\/atxbooks.com\/products\/the-wealth-of-nations-modern-library","provider":"ATX Books","version":"1.0","type":"link"}