First published in 1776, this work is the classic statement of economic liberalism or the policy of laissez-faire and is widely considered on of the hundred greatest books of all time. Several fundamental principles or ';axioms' were introduced in this work, including the division of labor, supply and demand, and free market capitalism as some of the most obvious. Smith's political economy is primarily individualistic: self-interest is the incentive for economic action. However, he shows that universal pursuit of self-interest contributes to the public interest, a concept probably best encapsulated by John F. Kennedy when he remarked, ';a rising tide raises all boats.'

Kategori: Lydbøger