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The Wealth of Nations, Books IV-V (Penguin Classics)
by Adam Smith
from Penguin Classics
Customer Reviews:
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Avg. Customer Rating: 4.5 / 5.0 
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Don't be misled by the invisible hand 
This book is so widely cited and interpreted contrary to the author's original thought, that every economist should read it completely to avoid being misled by such incorrect interpretations.
First, let us take the "invisible hand" metaphor. When I have studied economy in the University, I was taught that almost the entire book is devoted to the "invisible hand" which means "self-corrective markets", "liberalism", "Laissez-faire" and "state non-intervention". After reading this book, I have found out... more info
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Prosperity or poverty. Smith vs Marx 
Adam Smith like Marx sees changes in the economic system as a logical, inevitable sequence of events. For example the power of the landed aristocracy declined as a consequence of the increasing importance of the towns. Good government was a result of this decline as people that had worked on the estates in conditions close to slavery moved to cities where they had considerable freedom. The difference between Marx and Smith is that Smith considered all of these changes leading to steady improvements whereas... more info
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A Winner!
This book is a classic of economic thought!
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