Wealth of Nations. First published in 1776 by Scottish philosopher Adam Smith, the book examined how nations create wealth through trade, labour and markets, becoming one of the most influential economic texts ever written. Today, it marks 250 years.
Smith argued that open trade and competition were key drivers of prosperity, criticising monopolies and protectionist tariffs that limited economic growth. His famous idea of the "invisible hand" described how individuals pursuing their own interests in a market can unintentionally contribute to wider social benefits, a concept that later shaped free-market economic theory.
Yet Smith's work also stressed the social responsibilities of wealth and warned against extreme inequality. Scholars say the book remains relevant because it explored how governments, markets and powerful interests interact. Debates that still underpin discussions on today.