Published in 1776, Adam Smith’s The Wealth of Nations is a foundational economic text that advocated for free markets, the division of labor, and the "invisible hand" of self-interest, shifting focus from mercantilism to production-based wealth. It introduced core principles such as the benefits of specialization and limited government intervention, emphasizing that competition drives efficiency and prosperity. Detailed summaries of Smith's economic theories are available at Investopedia .
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