Untersuchung ueber die Natur und die Ursachen des Nationalreichthums

First edition of Garve's translation of the Wealth of Nations, regarded as the first good German edition of Smith's great classic of political economy, which proved highly influential on the Continent. Christian Garve (1742-1798) was professor of philosophy in Leipzig and a great admirer of Scottish philosophy and philosophers. He provided the German public with first-class translations of a number of works, added lengthy notes and comments to his translations, popularised the Scots' ideas in his own writings and, in general, did more than anyone else to spread the fame of the Scottish Enlightenment. Smith's Wealth of Nations, more than any other, changed the course of economic history. It is considered the first expression of the freedom of the individual. He presented a co-ordinated and mutually dependent system of economic causes, which is exemplified in the most famous quotation from Book IV of the Wealth of Nations, the 'invisible hand theorem': 'But it is only for the sake of profit that any man employs (his) capital à he will always, therefore, endeavour to employ it in the support of that industry of which the produce is likely to be of the greatest value, or to exchange for the greatest quantity either of money or of other goods à he is in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it'.

Gift