The 10 Most Influential Books of All Time
5. The Wealth of Nations by Adam Smith
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is a book by the British economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world’s first collected descriptions of what builds nations’ wealth and is considered a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labor, productivity, and free markets.
The book had a significant impact in the United States as well as Europe. The newly independent United States of America inspired the idea that the Feudalistic philosophy of the time was becoming obsolete. The Wealth of Nations served as the groundwork for modern economics, advocating the practice of free markets. It has been stated that this book was the most important document published in the year 1776, winning out over even the Declaration of Independence, due to the far reaching global impact it had.
