#OTD in 1776.
Scottish political economist Adam Smith's book The Wealth of Nations, the first modern work in economics, was published.
It has become a fundamental work in classical economics, and has been described as "the first formulation of a comprehensive system of political economy".
https://en.wikipedia.org/wiki/The_Wealth_of_Nations
Wealth of Nations at PG:
https://www.gutenberg.org/ebooks/3300
“not only is there no invocation of the free market […Adam Smith] plainly sees that government, not private industry, is the only force capable of effectively ‘erecting and maintaining’ the technically unprofitable but nevertheless indispensable ‘publick works’ and ‘publick institutions’ […] essential to every modern state.”
—Evan Gottlieb on the origins & legacy of Adam Smith’s “Invisible Hand”
https://www.thebottleimp.org.uk/2013/05/invisible-hand-over-fist-on-the-development-and-legacy-of-adam-smiths-famous-phrase/
