First edition, Wealth of Nations Adam Smith, 1776 SMITH, Adam (1723-1790). An Inquiry into the Nature and Causes of the Wealth of Nations . London: W. Strahan and T. Cadell, 1776. First edition of the first major expression of the theory of free trade. Exalted equally as a compassionate conservative and sympathetic liberal, Smith propounds individual liberty and the accumulation of wealth, while arguing strongly for moral fairness and a duty to society. He describes a system of natural liberty and justice which strives towards improvement in the living standards of the population at large, equating higher wages with a healthier and more productive workforce. He expounds the belief that the limits to growth are political, not economic, and he sets out principles to guide legislators. Smith also provides a history of economic theory, an historical analysis of the wealth of nations, including China, and forecasts for the future. A central figure of the Scottish Enlightenment, together with his friend David Hume, Smith gave up his chair at the University of Glasgow in 1764 to serve as travelling tutor to the third duke of Buccleuch on the Continent. His observations of absolute monarchy and the ensuing fiscal problems laid the ground for his economic thought, as did meetings with intellectuals such as Voltaire and D’Alembert and economists such as Mirabeau and Turgot. After two decades of composition, Wealth of Nations was published in 1776 its profundity was immediately recognized. "The first and greatest classic of modern economic thought," ( PMM) the first edition sold out within six months of publication . This copy with early Scottish provenance. Goldsmith 11392; Grolier English 57; Kress 7621; PMM 221; Rothschild 1897. Two volumes, quarto (268 x 217mm). With the half-title only in volume 2, as issued, and the final blank in volume 1, adverts printed on verso of last leaf in volume 2 (handful of leaves with light spotting; vol. 1 with closed marginal tear to 2Q4, one blank corner torn; vol. 2, 2Y1 with small paper flaw causing loss of two letters). Full calf (worn and dry, vol. 2 front cover detached). Provenance : Lord Blantyre (peer of Scotland, probably Alexander Stuart, 10th Lord Blantyre, d. 1783; ownership inscriptions to titles, shelfmarks "D47") – letter dated 1846 laid in from Bryce Wright regarding land tax and referencing the Potato Famine – some pencil emphasis marks, three pages with penciled commentary on taxes.
First edition, Wealth of Nations Adam Smith, 1776 SMITH, Adam (1723-1790). An Inquiry into the Nature and Causes of the Wealth of Nations . London: W. Strahan and T. Cadell, 1776. First edition of the first major expression of the theory of free trade. Exalted equally as a compassionate conservative and sympathetic liberal, Smith propounds individual liberty and the accumulation of wealth, while arguing strongly for moral fairness and a duty to society. He describes a system of natural liberty and justice which strives towards improvement in the living standards of the population at large, equating higher wages with a healthier and more productive workforce. He expounds the belief that the limits to growth are political, not economic, and he sets out principles to guide legislators. Smith also provides a history of economic theory, an historical analysis of the wealth of nations, including China, and forecasts for the future. A central figure of the Scottish Enlightenment, together with his friend David Hume, Smith gave up his chair at the University of Glasgow in 1764 to serve as travelling tutor to the third duke of Buccleuch on the Continent. His observations of absolute monarchy and the ensuing fiscal problems laid the ground for his economic thought, as did meetings with intellectuals such as Voltaire and D’Alembert and economists such as Mirabeau and Turgot. After two decades of composition, Wealth of Nations was published in 1776 its profundity was immediately recognized. "The first and greatest classic of modern economic thought," ( PMM) the first edition sold out within six months of publication . This copy with early Scottish provenance. Goldsmith 11392; Grolier English 57; Kress 7621; PMM 221; Rothschild 1897. Two volumes, quarto (268 x 217mm). With the half-title only in volume 2, as issued, and the final blank in volume 1, adverts printed on verso of last leaf in volume 2 (handful of leaves with light spotting; vol. 1 with closed marginal tear to 2Q4, one blank corner torn; vol. 2, 2Y1 with small paper flaw causing loss of two letters). Full calf (worn and dry, vol. 2 front cover detached). Provenance : Lord Blantyre (peer of Scotland, probably Alexander Stuart, 10th Lord Blantyre, d. 1783; ownership inscriptions to titles, shelfmarks "D47") – letter dated 1846 laid in from Bryce Wright regarding land tax and referencing the Potato Famine – some pencil emphasis marks, three pages with penciled commentary on taxes.
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