Adam Smith — The Wealth of Nations (1776)

The founding book of modern economics.

Published the same year as the Declaration of Independence, An Inquiry into the Nature and Causes of the Wealth of Nations explains how the division of labor, free exchange and competition create prosperity. It also includes Smith’s warnings about monopolies and about banks that lend recklessly.

Every later economist on this shelf, Minsky included, wrote in conversation with it.

Part of the Boston Made Reader’s special collection Courage, Conscience & Service. Every book and document here is free to read.