7 ore 31 min, 22 feb 1768 anni - Adam Smith's Wealth of Nations

Descrizione:

Aimed to pinpoint the reasons for prosperity within a country. He found that the reasons were the division of labor, the nature of wages, and foreign markets. Introduced the idea of assembly lines, and the surpluses that result from them. These surpluses can be exported in exchange for useful imports. He believed that each country was better at making certain products and foriegn imports should be supported. He rejected mercantilism, the most common economic system of the time, and introduced capitalism.
Capitalism is the economy of most powerful nations in our world and Smith's Weath of Nations is largely prevalent in American and European economy.

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