The Wealth of Nations (book)

"The Wealth of Nations," written by Adam Smith in 1776, is a foundational text in economics that explores how wealth is created and distributed in society. Smith argues for the benefits of free markets and competition, suggesting that when individuals pursue their own interests, they inadvertently contribute to the overall good of society. He introduces concepts like the division of labor and the "invisible hand," which describes how self-regulating markets operate. The book advocates for limited government intervention in the economy, emphasizing that such conditions lead to innovation and prosperity.