An Inquiry into the Nature and Causes of the Wealth of Nations, commonly known as The Wealth of Nations, is Adam Smith’s landmark work on economics, published in 1776. The book examines how nations create wealth, how economic activity is organized, and how institutions, markets, labor, and trade influence prosperity.

Smith begins by emphasizing the division of labor, explaining how specialization can dramatically increase productivity. He then examines the origins and functions of money, the formation of prices, wages, profits, rent, and the accumulation of capital. His analysis explores how individuals pursuing their own economic interests can, under appropriate conditions, contribute to broader economic activity through voluntary exchange and competitive markets.

Smith also examines international trade and criticizes many mercantilist policies that restrict commerce or favor particular industries at the expense of wider economic efficiency. At the same time, he does not argue that government has no role. He identifies important public responsibilities, including national defense, the administration of justice, and certain public works and institutions that private individuals may not have sufficient incentive to provide.

The work also considers taxation, public debt, education, and the economic consequences of different forms of government policy.

Rather than presenting a simple defense of unrestricted markets, Smith offers a broad investigation of the institutions and conditions that shape economic life. The Wealth of Nations became a foundational text in the development of political economy and remains central to discussions of markets, specialization, trade, productivity, and economic policy.