wealth of nations

USAGE SUMMARY

The phrase "wealth of nations" is correct and usable in written English.
It is typically used in discussions about economics, referring to the collective resources and prosperity of a country or countries. Example: "Adam Smith's book, 'The Wealth of Nations,' laid the foundation for modern economic theory."

✓ Grammatically correct

News & Media

Science

Encyclopedias

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

There are three main arguments in "The Wealth of Nations".

The New Yorker

WHAT gives rise to the wealth of nations?

The Economist

But he erred in thinking that the wealth of nations lay only in agriculture.

The Economist

I am thinking about The Origin of Species and The Wealth of Nations".

Independent

Smith's work comes in two volumes, his "Theory of Moral Sentiments" and his "Wealth of Nations".

The New Yorker

The parliamentary democracy where Adam Smith was publishing "The Wealth of Nations"?

The Economist

Smith built on this philosophical groundwork in "The Wealth of Nations".

The New York Times

Consumers, Smith argued in the Wealth of Nations, should buy products from where they were cheapest.

The Economist

One of his central insights in "The Wealth of Nations" is the importance of specialization.

The New York Times - Magazine

("To be poor, in the epick language, is only not to command the wealth of nations").

The New Yorker

Adam Smith, in "The Wealth of Nations," advocated free trade based on his theory that the market's invisible hand would provide for the greater wealth of nations across the social spectrum.

The New Yorker

Expert writing Tips

Best practice

When discussing broad economic theories or historical analyses, use "wealth of nations" to invoke the classic economic concept introduced by Adam Smith. For example, "Understanding the factors contributing to the "wealth of nations" is crucial for policymakers."

Common error

Avoid assuming that "wealth of nations" solely refers to monetary wealth or GDP. Smith's concept encompasses a broader range of factors including labor, productivity, and trade. So, when using the phrase, ensure your context reflects this comprehensive understanding and not just simplistic financial metrics.

Linguistic Context

The phrase "wealth of nations" primarily functions as a noun phrase, often serving as the subject or object of a sentence. It encapsulates the economic prosperity, resources, and overall financial well-being of countries, as evidenced by examples available on Ludwig.

Expression frequency: Very common

Frequent in

News & Media

54%

Science

29%

Encyclopedias

7%

Less common in

Wiki

2%

Formal & Business

0%

Reference

0%

Ludwig's WRAP-UP

In summary, "wealth of nations" is a common noun phrase referring to the economic prosperity and resources of countries. As Ludwig AI confirms, the phrase is grammatically correct and widely used, particularly in news, scientific, and encyclopedic contexts. Its origins trace back to Adam Smith's seminal work, and it is often employed in discussions concerning economic theory and policy. When using this phrase, ensure that the context reflects a comprehensive understanding of economic well-being, and avoid limiting it solely to monetary measures. Exploring alternative phrases like "national prosperity" or "economic strength of a country" can provide nuanced ways to express similar concepts.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

national prosperity

Focuses on the economic success and affluence of a country, omitting direct reference to resources.

economic strength of a country

Highlights the power and robustness of a nation's economy, rather than its overall wealth.

national affluence

Emphasizes the abundance of riches and material possessions within a country.

countries' economic resources

Specifically denotes the available economic assets of multiple countries, shifting focus from general wealth.

economic welfare of a nation

Prioritizes the well-being derived from a country's economic status, rather than sheer wealth.

financial health of a country

Indicates the stability and soundness of a country's financial system, instead of its total wealth.

state of the economy

Refers to the current condition of a country's economic activity, without explicitly mentioning wealth.

gross domestic product

A technical term referring to the total value of goods and services produced, a specific measure of economic output.

economic output of nations

Focuses on production rather than overall wealth, denoting what countries produce economically.

economic power of countries

Highlights the capacity of countries to influence others through their economies, differing from mere wealth.

FAQs

What is the origin of the phrase "wealth of nations"?

The phrase "wealth of nations" is most famously associated with Adam Smith's 1776 book, An Inquiry into the Nature and Causes of the Wealth of Nations, which is a foundational work in classical economics.

How can I use "wealth of nations" in a sentence?

You can use "wealth of nations" to discuss factors influencing a country's economic prosperity, such as "Technological innovation is a key driver of the "national prosperity" and ultimately contributes to the "wealth of nations".

What's the difference between "wealth of nations" and "gross domestic product (GDP)"?

"Wealth of nations" is a broader concept encompassing all factors contributing to a country's economic well-being, while gross domestic product (GDP) is a specific metric measuring the total value of goods and services produced within a country's borders during a specific period. GDP is therefore only one measure of "national prosperity".

What are some factors that contribute to the "wealth of nations"?

Factors contributing to the "wealth of nations" include natural resources, human capital, technological innovation, efficient institutions, free trade, and sound economic policies. These elements collectively enhance a country's "economic strength of a country".