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What is the historical significance of 'The Wealth of Nations' by Adam Smith?

by Guest898  |  12 years, 8 month(s) ago

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What is the historical significance of 'The Wealth of Nations' by Adam Smith?

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  1. Saba
    This book by the Scottish philosopher, Adam Smith (1723-90), appeared in 1776 and is the great classic work of laissez-faire economics (capitalism). It also played a key role in establishing economics as an area of study in its own right.

    It was the first major work in the science of economics. It explained how a free market, capitalist economy works and every economic treatise since then has been built on and influenced by it.

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