The economic doctrine that was dominant at the time (1776) Adam smith published an inquiry into the nature and causes of the wealth of nations, and to which smith aimed his criticism, is called classical capitalism.
The greatest work of Scottish economist and moral philosopher Adam Smith is An Inquiry into the Nature and Causes of the Wealth of Nations, more popularly known as The Wealth of Nations. The book, which was first published in 1776, is still regarded as a foundational work in traditional economics.
It is one of the earliest compilations of explanations of how nations produce wealth. The book looks back to the economics at the beginning of the Industrial Revolution to address major issues such as the division of labour, productivity, and free markets. The revised sixth edition was published in 1904 along with the revisions.
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