Adam Smith is often considered the first modern economist. His magnum opus,-áThe Wealth of Nations-á(1776) is widely credited with laying the theoretical and philosophical foundations for capitalism. The work had an immediate impact on economic thinking, in light of its arguments for the freedom of trade.-áThe Wealth of Nations-áis far more than a treatise of economic theory, however. In this work Smith presents a powerful blueprint for a stable and peaceful society which rests upon a hard-headed and realistic assessment of humans and their natures.
The Wealth of Nations
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