Adam Smith is often considered the first modern economist. His
magnum opus, "The Wealth of Nations" (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. "The Wealth of
Nations" is 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.
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