An inquiry into the nature and causes of the wealth of nations

Published in 1776, this book is a comprehensive study of political economy that challenges the mercantilist views of the time.

It argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces.

Smith introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit through free markets.

The book also discusses the division of labor, capital accumulation, and the role of government in economic development, advocating for limited government intervention and the promotion of free trade and competition.