The wealth of nations: books iv-v/adam smith

The classic economic treatise that inspired Thomas Pikettys Capital in the Twenty-First Century.

With this landmark treatise on political economy, Adam Smith paved the way for modern capitalism, arguing that a truly free market - fired by competition yet guided as if by an invisible hand to ensure justice and equality - was the engine of a fair and productive society.

In Books IV-V, Smith offers his considered response to the French Physiocrats and assesses the nature of the mercantile system.