In what year did Adam Smith publish "Wealth of Nations"?

Adam Smith published "The Wealth of Nations" in 1776. This foundational work in economics laid the groundwork for classical economics and introduced concepts such as the division of labor, the idea of the 'invisible hand' guiding free markets, and the benefits of specialization. Smith's analysis explored how nations could enhance their wealth through trade, production, and consumption, emphasizing the importance of economic freedom and minimal government intervention in markets.

The publication year is significant because it coincides with the Enlightenment, a period marked by a focus on reason, science, and individual rights. Smith's work reflected these ideals and influenced economic thought and policy in subsequent centuries. Understanding this historical context helps appreciate the lasting impact of Smith's ideas on modern economics.