# Adam Smith — The Wealth of Nations character guide > Adam Smith in The Wealth of Nations by Adam Smith. **Role:** major **Also known as:** Dr. Adam Smith, Smith, Probably Smith **First appearance:** 0001-introduction-and-plan-of-the-work ## Snapshot A Scottish moral philosopher who turned a surgeon's eye on nations, showing how self-interest, not benevolence, stocks the world's markets. ## Who they are Smith spent a decade assembling his inquiry into why some nations grow rich while others stagnate, publishing it in 1776 as Britain's American troubles boiled over. He is no dry theorist: he notices that a professor paid by fixed salary grows lazy, that brewers and bakers feed us not from kindness but from regard to their own interest, and that the same self-love builds both opulence and moral hazard. His calm, patient voice is the engine of the book — a guide who trusts you to follow a long argument because he has already walked every step of it himself. ## Relationships ### [Francis Hutcheson](https://www.betterreads.dev/discover/the_wealth_of_nations_se/characters/francis_hutcheson) _friendship_ Adam Smith and Francis Hutcheson have a friendly mentor-student relationship. ## In the story ### [Editor's Introduction](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/editor-s-introduction) Author of the Wealth of Nations; his lectures at Glasgow and Edinburgh formed the basis of the book. ### [Introduction and Plan of the Work](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/introduction-and-plan-of-the-work) Author and narrator of the work, presenting the plan and scope of the inquiry. ### [The Wealth of Nations](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/the-wealth-of-nations) Author and primary voice of the treatise. ### [Book I: Of the Causes of Improvement in the Productive Powers of Labour](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/book-i) Author and primary expositor of the principles discussed in Book I. ### [Of the Division of Labour](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/i-of-the-division-of-labour) Author and narrator, explaining the division of labour and its effects through examples and reasoning. ### [Of the Principle Which Gives Occasion to the Division of Labour](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ii-of-the-principle-which-gives-occasion-to-the-division-of-labour) Author and narrator of the chapter, presenting the principle behind the division of labour. ### [Chapter III: That the Division of Labour Is Limited by the Extent of the Market](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/iii-that-the-division-of-labour-is-limited-by-the-extent-of-the-market) Author and narrator of the chapter's argument. ### [Of the Origin and Use of Money](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/iv-of-the-origin-and-use-of-money) Author and narrator, explaining the origin and use of money. ### [V: Of the Real and Nominal Price of Commodities, or of Their Price in Labour, and Their Price in Money](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/v-of-the-real-and-nominal-price-of-commodities-or-of-their-price-in-labour-and-their-price-in-money) Author and narrator of the chapter, presenting the distinction between real and nominal price. ### [Of the Component Parts of the Price of Commodities](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/vi-of-the-component-parts-of-the-price-of-commodities) Author and narrator of the chapter, explaining the component parts of commodity prices. ### [Of the Natural and Market Price of Commodities](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/vii-of-the-natural-and-market-price-of-commodities) Author and narrator, explaining the concepts of natural and market price. ### [VIII: Of the Wages of Labour](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/viii-of-the-wages-of-labour) Author and narrator; presents the analysis of wages, population, and labour markets. ### [IX: Of the Profits of Stock](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ix-of-the-profits-of-stock) Author and narrator of the chapter, analyzing profits of stock. ### [I: Inequalities Arising from the Nature of the Employments Themselves](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/i-inequalities-arising-from-the-nature-of-the-employments-themselves) Author and narrator, analyzing the causes of wage and profit inequalities. ### [II: Inequalities Occasioned by the Policy of Europe](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ii-inequalities-occasioned-by-the-policy-of-europe) Author and narrator of the chapter, analyzing the inequalities caused by European policies. ### [Digression Concerning the Variations in the Value of Silver During the Course of the Four Last Centuries](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/digression-concerning-the-variations-in-the-value-of-silver-during-the-course-of-the-four-last-centuries) Author and narrator of the digression, analyzing the value of silver and its relation to national wealth. ### [Second Sort](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/second-sort) Author and narrator, analyzing the price dynamics of the second sort of rude produce. ### [Effects of the Progress of Improvement Upon the Real Price of Manufactures](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/effects-of-the-progress-of-improvement-upon-the-real-price-of-manufactures) Author and narrator, analyzing the effects of economic improvement on manufacturing prices. ### [Book II: Of the Nature, Accumulation, and Employment of Stock](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/book-ii) Author and narrator of the analysis on stock. ### [II: Of Money Considered as a Particular Branch of the General Stock of the Society, or of the Expense of Maintaining the National Capital](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ii-of-money-considered-as-a-particular-branch-of-the-general-stock-of-the-society-or-of-the-expense-of-maintaining-the-national-capital) Author and narrator; presents the analysis of money as part of national capital. ### [III: Of the Accumulation of Capital, or of Productive and Unproductive Labour](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/iii-of-the-accumulation-of-capital-or-of-productive-and-unproductive-labour) Author and narrator, defining productive vs. unproductive labour and analyzing capital accumulation. ### [Book III: Of the different progress of opulence in different nations](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/book-iii) Author and narrator of the chapter, presenting his analysis of economic progress. ### [I: Of the Natural Progress of Opulence](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/i-of-the-natural-progress-of-opulence) Author and narrator, presenting the natural progress of opulence. ### [Book IV: Of Systems of Political Economy](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/book-iv) Author and narrator, presenting his critique of mercantilism and advocacy for free trade. ### [I: Of the Principle of the Commercial or Mercantile System](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/i-of-the-principle-of-the-commercial-or-mercantile-system) Author and primary voice; critiques the mercantile system and the popular notion that wealth equals money. ### [II: Of Restraints Upon the Importation from Foreign Countries of Such Goods as Can Be Produced at Home](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ii-of-restraints-upon-the-importation-from-foreign-countries-of-such-goods-as-can-be-produced-at-home) Author and narrator; presents the core argument against import restraints and for free trade. ### [V: Of Bounties](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/v-of-bounties) Author and primary voice critiquing bounties and mercantile system. ### [VI: Of Treaties of Commerce](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/vi-of-treaties-of-commerce) Author and primary commentator, analyzing the Methuen Treaty and critiquing mercantilist trade policies. ### [VIII: Conclusion of the Mercantile System](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/viii-conclusion-of-the-mercantile-system) Author and narrator; presents the concluding critique of the mercantile system. ### [Chapter IX: Of the Agricultural Systems, or of Those Systems of Political Œconomy, Which Represent the Produce of Land as Either the Sole or the Principal Source of the Revenue and Wealth of Every Country](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ix-of-the-agricultural-systems-or-of-those-systems-of-political-conomy-which-represent-the-produce-of-land-as-either-the-sole-or-the-principal-source-of-the-revenue-and-wealth-of-every-country) Author and critic of the agricultural system, analyzing the Physiocratic distinction between productive and unproductive labor. ### [Book V: Of the Revenue of the Sovereign or Commonwealth](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/book-v) Author and primary voice analyzing the revenue and expenses of the sovereign. ### [I: Of the Expense of Defence](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/i-of-the-expense-of-defence) Author and narrator, analyzing the expense of defence across different societies. ### [Of the Expense of Justice](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/ii-of-the-expense-of-justice) Author and narrator; presents the analysis of justice and government. ### [And, First, of Those Which Are Necessary for Facilitating Commerce in General](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/and-first-of-those-which-are-necessary-for-facilitating-commerce-in-general) Author and narrator, presenting arguments on public works and commerce. ### [Article II: Of the Expense of the Institutions for the Education of Youth](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/article-ii-of-the-expense-of-the-institutions-for-the-education-of-youth) Author and commentator on the public expense of education, advocating for state-facilitated schooling for the common people. ### [IV: Of the Expense of Supporting the Dignity of the Sovereign](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/iv-of-the-expense-of-supporting-the-dignity-of-the-sovereign) Author and narrator of the chapter, discussing the expenses of supporting the sovereign's dignity. ### [Taxes Upon Rent; Taxes Upon the Rent of Land](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/taxes-upon-rent-taxes-upon-the-rent-of-land) Author and primary voice analyzing land-tax systems. ### [Taxes Upon Profit, or Upon the Revenue Arising from Stock](https://www.betterreads.dev/discover/the_wealth_of_nations_se/chapters/taxes-upon-profit-or-upon-the-revenue-arising-from-stock) Author and primary voice analyzing taxation of stock and profit. ## Links - HTML: https://www.betterreads.dev/discover/the_wealth_of_nations_se/characters/adam_smith - Book: https://www.betterreads.dev/discover/the_wealth_of_nations_se - All characters: https://www.betterreads.dev/discover/the_wealth_of_nations_se/characters