When many folks hear the phrase “Wealth of Nations,” they immediately think of Adam Smith’s legendary socioeconomic work published in 1776 under the full title of An Inquiry into the Nature and Causes of the Wealth of Nations. The work was one of the first serious thought pieces regarding how wealth is created and the role of a market-based economy in that process. The book covers a number of broad-based economic concepts, such as the division of labor, productivity and the usefulness of free markets.
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