March 9, 1776
Adam Smith publishes the classic and influential economics book,
"THE WEALTH OF NATIONS"
More about this:
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. In it he analysed the relationship between work and the production of a nation's wealth.
Five editions of The Wealth of Nations were published during Smith's lifetime: in 1776, 1778, 1784, 1786 and 1789.
Though written in as far back as 1776, “The Wealth of Nations” continues to be one of the most important economics books of all time.
Smith argues in this book that by giving everyone freedom to produce and exchange goods as they pleased (free trade) and opening the markets up to domestic and foreign competition, people's natural self-interest would promote greater prosperity than with stringent government regulations.
Full Text of the book in Project Gutenberg, for those interested in reading it:
https://www.gutenberg.org/files/3300/3300-h/3300-h.htm
Grateful thanks to :
https://www.marketplace.org,
https://www.investopedia.com,
Project Gutenberg and Wikipedia.
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