"The Wealth of Nations" by Adam Smith, published in 1776, is a seminal work in the field of economics. In this book, Smith outlines his ideas on the principles of free-market capitalism and the invisible hand—a concept suggesting that individuals pursuing their self-interest can unintentionally contribute to the greater good of society.
Smith argues that a free-market system, driven by competition and self-interest, naturally leads to economic growth and prosperity for nations. He discusses the division of labor, the importance of self-regulating markets, and the role of government in maintaining the rule of law and protecting property rights.
The book is considered the foundation of modern economics and has had a profound influence on economic thought, advocating for limited government intervention in the economy and emphasizing the power of individual self-interest as a force for economic progress.