Adam Smith's Simplified Wealth of Nations, Book 2, Introduction


1 In the rude state of society, there is no division of labour and exchanges are seldom made. 2 But when the division of labour has been thoroughly introduced, the produce of a man's own labour can supply only a few of his wants.

3 The accumulation of stock must be previous to the division of labour.

4 The accumulation of stock leads to, and is necessary for, the great increase in productivity.

5 Such are the effects of the increase of stock on industry and productivity.

6 In Book 2, I explain:

This book has five chapters.

Next: Book 2, Chapter 1a: Division of Stock