Wrote The Theory of Moral Sentiments (1759) and The Wealth of Nations (1776), the book that began modern economics as a discipline; a figure of the Scottish Enlightenment.
The Wealth of Nations set out how division of labour, self-interest and competitive prices coordinate production without central direction, and it supplies the vocabulary economics still argues in: specialisation, capital accumulation, natural and market price. The Theory of Moral Sentiments supplies the other half, placing exchange inside a system of sympathy and judgement.
7 books of their own
How the division of labour and free markets make a nation rich.
Recommended by: Naval Ravikant, Patrick Collison and 7 others
How moral judgement grows from sympathy and an imagined impartial spectator.
Recommended by: Mohnish Pabrai
Books One to Three: division of labour, money, prices, wages, profit and capital.
Recommended by: Mohnish Pabrai
Books Four and Five: the case against mercantilism, and the role of the state.
Recommended by: Mohnish Pabrai
Markets as a game of crowd psychology, seen through 1960s go-go Wall Street.
“One of the great books about investing is Adam Smith's 'The Money Game' which was published in 1967.” — Barton Biggs
Source: Biggs on one of the great books about investing
Recommended by: Barton Biggs, Howard Marks, Mohnish Pabrai and 5 others
Wall Street from the late-1960s boom to the 1970 to 1973 collapse.
Recommended by: Mohnish Pabrai, Warren Buffett
The 1970s disorder: the end of Bretton Woods, oil shocks and petrodollar loans.
Recommended by: Mohnish Pabrai
The Wealth of Nations | How the division of labour and free markets make a nation rich. | 1776 | T1 | Naval Ravikant, Patrick Collison, Charlie Munger and 6 others |
The Theory of Moral Sentiments | How moral judgement grows from sympathy and an imagined impartial spectator. | 1759 | T1 | Mohnish Pabrai |
An Inquiry into the Nature and Causes of the Wealth of Nations: Volume 1 | Books One to Three: division of labour, money, prices, wages, profit and capital. | 2015 | T1 | Mohnish Pabrai |
An Inquiry into the Nature and Causes of the Wealth of Nations: Volume 2 | Books Four and Five: the case against mercantilism, and the role of the state. | 2015 | T1 | Mohnish Pabrai |
The Money Game | Markets as a game of crowd psychology, seen through 1960s go-go Wall Street. | 1968 | T1 | Barton Biggs, Howard Marks, Mohnish Pabrai and 5 others |
Supermoney | Wall Street from the late-1960s boom to the 1970 to 1973 collapse. | 1972 | T1 | Mohnish Pabrai, Warren Buffett |
Paper Money | The 1970s disorder: the end of Bretton Woods, oil shocks and petrodollar loans. | 1981 | T1 | Mohnish Pabrai |
| Adam Smith is misinterpreted and his influence overstated Paywall | The Economist | 2025 |
| We should look closely at what Adam Smith actually believed | Aeon | 2018 |
| Making Adam Smith Paywall | The Economist | 2010 |
| Economic Scene; The many faces of Adam Smith Paywall | The New York Times | 2001 |