Adam Smiths Wealth of Nations

Adam Smiths The Wealth of Nations is regarded by many as the most important text in the history of economics. Jerry Evenskys analysis of this landmark book walks the reader through the five Books of The Wealth of Nations, analyzing Smiths terms and assumptions and how they are developed into statements about economic processes in Book I, his representation of the dynamics of economics systems in Book II, and his empirical case for his model in Book III. With that framework in place, Evensky examines Smiths critique of alternative models, mercantilism and physiocracy, in Book IV, and Smiths presentation of the policy implications of his analysis presented in Book V. This guide highlights the nexus of Smiths economics and his work on ethics and jurisprudence, and in doing so Evensky sets his examination of The Wealth of Nations into a larger, holistic analysis of Smiths moral philosophy.