Its first section compares agricultural societies to industrial ones, and studies pin manufacturing to illustrate ways in which the division of labor can increase industrial productivity.
This work's last section, "Of the Revenue of the Sovereign or Commonwealth", discusses taxation and explains why debts from wars are unlikely to be paid off. Book Four of this work, "Of Systems of Political Economy", attacks mercantilism and specifically protectionist tariffs. Its first section compares agricultural societies to industrial ones, and studies pin manufacturing to illustrate ways in which the division of labor can increase industrial productivity. This book uses the concept of an "invisible hand" to explain individuals acting in their own self-interests. For 10 points, name this 1776 work advocating laissez-faire economics, written by Adam Smith.
This work's last section, "Of the Revenue of the Sovereign or Commonwealth", discusses taxation and explains why debts from wars are unlikely to be paid off.
An Inquiry into the Nature and Causes of the {Wealth} of {Nations}