Liberty and the State in Adam Smith's "Wealth of Nations"

 Reading List  



Session I: The Division of Labor, Wealth, and Benevolence.

·      Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations, Volume I. Edited by R. H. Campbell and A. S. Skinner. Indianapolis: Liberty Fund, Inc., 1982.  "Introduction and Plan of the Work" (pages 10–12); Book I, Chapter 1, "Of the Division of Labour" (pages 13–24), Chapter 2, "Of the Principle Which Gives Occasion to the Division of Labour" (pages 25–30), Chapter 3, "That the Division of Labour is Limited by the Extent of the Market" (pages 31–36), Chapter 4, "Of the Origin and Use of Money" (pages 37–46), and Chapter 5, "Of the Real and Nominal Price of Commodities, or of their Price in Labour, and their Price of Money" (pages 47–64).  (Book)


Session II: Nature, Monopoly, and Perfect Liberty.

·      Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations, Volume I. Edited by R. H. Campbell and A. S. Skinner. Indianapolis: Liberty Fund, Inc., 1982.  Book I, Chapter 6, "Of the Component Parts of the Price of Commodities" (pages 65–71), Chapter 7, "Of the Natural and Market Price of Commodities" (pages 72–81), Chapter 8, "Of the Wages of Labour" (pages 82–104), Chapter 9, "Of the Profits of Stock" (pages 105–115), Chapter 10, "Of Wages and Profit in the Different Employments of Labour and Stock" (pages 116–159), and "Conclusion" (pages 264–275).  (Book)


Session III: Profit, Money, and Banks.

·      Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations, Volume I. Edited by R. H. Campbell and A. S. Skinner. Indianapolis: Liberty Fund, Inc., 1982.  Book II, Chapter 1, "Of the Division of Stock" (pages 279–285), Chapter 2, "Of Money Considered as a Particular Branch of the General Stock of the Society, or of the Expence of Maintaining the National Capital" (pages 286–329), and Chapter 3, "Of the Accumulation of Capital, or of Productive and Unproductive Labour" (pages 330–349).  (Book)


Session IV: Commerce and Civilization.

·      Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations, Volume II. Edited by R. H. Campbell and A. S. Skinner. Indianapolis: Liberty Fund, Inc., 1982.  Book IV, Chapter 9, "Of the Agricultural Systems, or of those Systems of Political Economy, which Represent the Produce of Land as Either the Sole or the Principal Source of the Revenue and Wealth of Every Country" (pages 663–688).  (Book)

·      Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations, Volume I. Edited by R. H. Campbell and A. S. Skinner. Indianapolis: Liberty Fund, Inc., 1982.  Book III, Chapter 1, "Of the Natural Progress of Opulence" (pages 376–380), selection from Chapter 4, "How the Commerce of the Towns Contributed to the Improvement of the Country," parts 1–6 and 24, (pages 411–415 and 426-427); and Book IV, Chapter 1, "Of the Principle of the Commercial, or Mercantile System" (pages 429–451), and a selection from Chapter 2, "Of Restraints upon the Importation from Foreign Countries of such Goods as can be Produced at Home," parts 1–2, (pages 452–453).  (Book)


Session V: Historical Development and Education.

·      Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations, Volume II. Edited by R. H. Campbell and A. S. Skinner. Indianapolis: Liberty Fund, Inc., 1982.  Book V, selections from Chapter 1, "Of the Expences of the Sovereign or Commonwealth," parts 1, 2, and 3 (pages 689–723) and "Conclusion" (pages 814–816).  (Book)


Session VI: Conclusion.

·      Smith, Adam. The Theory of Moral Sentiments. Edited by D. D. Raphael and A. L. Macfie. Indianapolis: Liberty Fund, Inc., 1982.  Part IV, Chapter 1, "Of the Beauty Which the Appearance of Utility Bestows upon all the Productions of Art, and of the Extensive Influence of this Species of Beauty" (pages 179–187).  (Book)