9 mars 1776 - Publication of the Wealth of Nations

Description:

On this day, Adam Smith published this book at the rise of the British Empire & Colonialism. Unlike most of the people at the time, Smith actually opposed Mercantilism, a type of economic theory that a nation's prestige depended on its wealth. In addition, he believed in free competition which still puts competition between other countries for goods, but not to the point that they are waging huge wars for more land and wealth. Adam Smith's arguments later gave rise to economic liberalism, as it is supported by Wealth of Nations due to its nonregulation of capitalism.