“The Wealth of Nations is the Bible of capitalism”

Simplified Meaning:

The comparison being made here is between "The Wealth of Nations" and the Bible, suggesting that "The Wealth of Nations" is a very important and influential book for understanding capitalism. Capitalism is an economic system where private individuals or businesses own and manage companies, competing with each other to make money. Just as the Bible is a key text for understanding Christianity, "The Wealth of Nations," written by Adam Smith, is crucial for understanding how capitalism works. Smith's book explains ideas like the importance of free markets, where goods and services are traded freely without too much government interference. For example, it talks about how businesses thrive when they can compete with each other, which leads to better goods and services for consumers. If someone wants to learn how modern economies operate, especially those based on capitalist principles, they would benefit greatly from reading and understanding this book, much like how a religious person might read the Bible to understand their faith better.