An Inquiry Into the Nature and Causes of the Wealth of NationsSmith, Adam
General
An Inquiry Into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
The next ten years of his life, after his arrival from the continent,
Mr. Smith passed with his mother at Kirkaldy, though he occasionally,
during that time, visited London and Edinburgh. Mr. Hume, who considered
a town as the proper scene for a man of letters, made many attempts to
prevail on him to leave his retirement.
At length, in the beginning of the year 1776, Mr. Smith accounted to the
world for his long retreat, by the publication of his 'Inquiry into the
Nature and Causes of the Wealth of Nations.' This work chiefly
comprehended the subject of the fourth and last division of his
lectures, namely, those political regulations that have their origin in
expediency. For about twenty years of his life, his attention had been
chiefly devoted to the study of subjects connected with the science of
political economy. His long residence in the mercantile city of Glasgow
afforded him opportunities of deriving information, in many particulars,
from the best sources; his travels on the continent contributed to
extend his knowledge, and correct many of those misapprehensions of life
and manners which the best descriptions of them are found to convey; and
the intimacy in which he lived with some of the leaders of the sect of
economists, and other writers on the subject of political economy, could
not fail to assist him in methodizing his speculations, and of adding to
the soundness of his conclusions.--After his arrival in this country, he
wanted nothing more than leisure, to arrange his materials, and prepare
them for publication: and for this purpose he passed in retirement the
subsequent ten years.
The great aim of Mr. Smith's Inquiry, the fruit of so much research, and
the work of so many years, is, as Professor Stewart observes, to direct
the policy of nations with respect to one most important class of its
laws,--those which form its system of political economy: 'and he has
unquestionably,' the same eloquent writer adds, 'had the merit of
presenting to the world the most comprehensive and perfect work that has
yet appeared on the general principles of any branch of legislation.'
'A great and leading object of Mr. Smith's speculations,' as Mr. Stewart
also observes, 'is to demonstrate, that the most effectual plan for
advancing a people to greatness, is to maintain that order of things
which nature has pointed out, by allowing every man, as long as he
observes the rules of justice, to pursue his own interest in his own
way, and to bring both his industry and his capital into the freest
competition with these of his fellow citizens.'
Public-domain text, read in full here on John Shaqi.
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