The wealth of nations

On March 9, 1776, “An Inquiry into the Nature and Causes of the Wealth of Nations”—commonly referred to as simply “The Wealth of Nations”—was first published. Smith, a Scottish philosopher by trade, wrote the book to upend the mercantilist system. Mercantilism held that wealth was fixed and finite, and that the only way to prosper was to hoard gold and tariff products from abroad. According to this theory, nations should sell their goods to other countries while buying nothing in return. Predictably, countries fell into rounds of retaliatory tariffs that choked off international trade—Read more at Investopedia. Blenman, Joy. “Adam Smith and ‘The Wealth of Nations’” 26 July 2019.