jan 1, 1776 - Wealth of Nations

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Written by Adam Smith in 1776, it introduced the idea of laissez-faire economic thought and policy, although he didn't oppose all government activity in the economy. He embraced an important theory of human social and economic development known as the four sate theory which said human societies can be classified as:
1. hunting and gathering
2. pastoral or herding
3. agricultural or commercial
the transition between these different societies is the same as the transition from barbarism to civilization

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