Abstract

"Wealth" means "well-being"; Smith's book is in fact about material well-being. The Wealth of Nations is an influential statement of the case for laissez-faire, the thesis that government should not attempt to control or direct economic activity. His arguments are in terms of both economic efficiency and justice. (Keep an eye out for his references to justice and rights.) As you read these extracts ask what functions he thinks governments do and do not have, and why.