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First edition in Chinese, first printing, of Smith's landmark treatise. Translated by the prominent Qing dynasty literatus Yan Fu, Smith's ideas were at the centre of late-Qing discussions concerning self-strengthening, national rejuvenation, and the future of China. By the late 19th century, Qing China struggled to compete economically with other global empires, while severe financial woes gradually sapped the stability of social institutions and the military. Wealth of Nations, alongside other Western theories such as those of Thomas Henry Huxley, offered much to Chinese officials and intellectuals preoccupied with understanding how China could adapt to modern realities and return to its traditional dominance in the face of increasingly aggressive foreign powers. Yan Fu (1854-1921) began his translation in 1897, convinced that "the system of economic liberalism developed in the book... and demonstrated in the living example of Victorian England [was] a system admirably designed to achieve the wealth and power of the state" (Schwartz, p. 6). Working from the Thorold Rogers second edition (1880), Yan spent four years on the project, including time spent adding explanatory notes, with the final product published by Shanghai's Nanyang Public Academy in 1902. Yan's teacher, Wu Rulun, provided a preface, while additional biographical material was supplied by scholarly contemporaries. Shortly after publication of Yan's translation, the famous scholar Liang Qichao extolled him as "a man whose Chinese and Western learning is unparalleled in China" (quoted in Zhu, p. 212), and the text was later re-released in two editions in 1929 and 1930 by the Commercial Press, at the time China's most important social sciences publishing house. Yan's decision to translate into Classical Chinese - a language understood only by the country's educated elite - did not dampen the influence of his achievement. While other translations have since been published in China, his translation remains much admired. Fittingly, a bust of Yan, the scholarly "heavy hitter" (Wilkinson) of the late imperial period, sits in the entrance foyer of the library of Peking University, China's oldest university and a gathering point for the country's reform-minded intellectual community in the 20th and 21st centuries. READ MORE Eight volumes, octavo (254 x 147 mm). Original brown paper wrappers, recently renewed gold thread xianzhuang stitching. Housed in custom folding blue cloth case. Text in Chinese. Front covers sometime annotated in Chinese with title and volume number. Wrappers relined and repaired in several places (rear wrapper of vol. V recently renewed), the odd tide mark in text. A well-preserved copy. Tribe 253; Vanderblue, p. 22. Cheng-chung Lai, ed., Adam Smith across Nations, 2000; Benjamin Schwartz, "The Wealth of Nations," in Cheng, pp. 3-15; Wilkinson, Chinese History: A New Manual 5.1.5; Zhu Shaowen, "Adam Smith in China", in Tribe, pp. 209-18.

"The Wealth of Nations" is a seminal work by the Scottish economist and philosopher Adam Smith, published in 1776. It is considered one of the foundational texts of modern economics and a cornerstone in understanding the principles of capitalism and free-market economies. Smith's primary focus is to analyze the nature and causes of the wealth of nations. He introduces the concept of the "invisible hand," arguing that individuals pursuing their self-interest in a competitive market inadvertently contribute to the overall economic well-being of society. Smith illustrates how the division of labor leads to increased productivity and efficiency within industries, consequently fostering economic growth. He emphasizes that specialization allows workers to become more skilled and efficient at their tasks, leading to higher output. Central to Smith's ideas is the notion of free trade and the benefits it brings. He advocates for minimal government intervention in economic affairs, believing that markets left to operate freely tend to regulate themselves through the forces of supply and demand. However, Smith also acknowledges the importance of certain governmental roles, such as providing public goods, maintaining infrastructure, enforcing contracts, and protecting society from external threats. Smith criticizes mercantilism, the prevailing economic system of his time, which emphasized accumulating wealth through a positive balance of trade and a strong focus on exporting while limiting imports. He argues that this approach is counterproductive and advocates for free trade, stating that a nation's wealth is not solely measured by its stock of gold and silver but by the productivity and living standards of its people. Furthermore, Smith discusses the role of wages, profits, and rent in the economy, addressing factors influencing each and their impacts on economic development. He delves into the relationship between economic growth, capital accumulation, and technological progress, highlighting the significance of innovation and investment in driving long-term prosperity. In essence, "The Wealth of Nations" provides a comprehensive analysis of the mechanisms underlying economic systems, advocating for free markets, individual liberty, and limited government intervention as the pillars for generating wealth and fostering societal advancement. Its influence extends across various fields, shaping economic thought and policy for centuries to come.