1776: Adam Smith’s Wealth of Nations promoted free enterprise

1776: Adam Smith’s Wealth of Nations promoted free enterprise

In 1776, an economics book titled was published to promote the concept of free enterprise.

Answer: The Wealth of Nations

Adam Smith wrote a book titled "The Wealth of Nations" in 1776 as an advocate of free enterprise. The significant book helped initiate economics as a modern discipline, advocating for free markets, division of labor, and the concept of an "invisible hand" which allows individuals' self-interest to benefit society. Mercantilist policies were opposed by the thoughts of Smith, and he emphasized how economies prosper with minimal government intervention by promoting competition, innovations, and economic development. The book remains a significant resource for free enterprise and capitalism.

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