A review of Adam smith’s The inquiry into the nature and causes of the wealth of Nations
Book 2 Chapter 2 Introduction Adam smith’s had a bigger and more global impact when he published “An inquiry into the nature and causes of the wealth of Nations” also referred to as The Wealth of Nations on the march 9 th of march 1776 . Smith who is a Scottish moral philosopher by trade , Author and a political Economist who also known as the father of Economics , wrote this book to describe the industrialized capitalist system that was upending mercantilist system. Mercantilism held that wealth was fixed and finite and that the only way to prosper was to hoard gold and traffic products from abroad. According to this theory, Nations should trade with buying anything in return (nations should sell their good in exchange for money and not goods Adam smith’s among the first philosophers of his time that propounded theories that states : that wea...