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Detailed explanation-1: -Adam Smith was a philosopher and economic theorist born in Scotland in 1723. He’s known primarily for his groundbreaking 1776 book on economics called An Inquiry into the Nature and Causes of the Wealth of Nations.

Detailed explanation-2: -Adam Smith Smith is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics.

Detailed explanation-3: -What is it about? The Wealth of Nations is a profoundly influential work in the study of economics and examines exactly how nations become wealthy. Adam Smith advocates that by allowing individuals to freely pursue their own self-interest in a free market, without government regulation, nations will prosper.

Detailed explanation-4: -In 1776, Adam Smith published The Wealth of Nations, probably the most influential book on market economics ever written. Born in 1723, Adam Smith was the son of a customs official in Kirkcaldy, Scotland.