Episode 2: How The Wealth of Nations came to be written

Sunday 9th March marks the 249th anniversary of one of the greatest books ever written, Adam Smith’s The Wealth of Nations. It created the modern discipline of economics, and made a powerful case for an end to tariffs and other restrictions on international trade, and for the abolition of regulations on domestic commerce. It extolled the virtues of ’the system of natural liberty’, demonstrated the benefits of specialisation, showed the perverse consequences of taxes and subsidies, and warned against attempts to plan economic activity centrally.

To mark the anniversary, we are running four short cartoons on ‘How The Wealth of Nations was written, which we hoped to expand into a book, The Wealth of Nations in Cartoons. Unfortunately the illustrator, Steve Masty, died before this task could be completed, and all that remains are these drafts. However, we fully intend to revive this project before the 250th anniversaty in 2026 !

EPISODE 2

Story by Eamonn Butler

Drawings by Steve Masty

In which Professor Smith explains the huge productivity gains to be had from specialisation and free exchange in the marketplace.

Eamonn Butler & Steve Masty