Who wrote the book, The Wealth of Nations?

→ The Wealth of Nations (An Inquiry into the Nature and Causes of the Wealth of Nations) was written by the Scottish philosopher Adam Smith.
→ Published in 1776, it is considered the foundation of modern classical economics.
→ The book introduces the concept of the 'Invisible Hand', suggesting that individuals seeking their own gain indirectly promote the good of society.
→ It advocated for laissez-faire (free market) policies and the division of labor as keys to national prosperity.
Information Booster

→ Adam Smith is widely known as the 'Father of Economics'.
→ He argued against Mercantilism, which was the dominant economic theory of his time.
→ The book explains that GDP (productive labor) rather than gold reserves determines a nation's wealth.
→ Smith was a prominent figure of the Scottish Enlightenment.
→ He also wrote The Theory of Moral Sentiments in 1759.
Additional Information

Option (A) David Ricardo: He was a later classical economist famous for the theory of Comparative Advantage and his work On the Principles of Political Economy and Taxation.
Option (B) Machiavelli: Niccolò Machiavelli was a Renaissance political philosopher best known for The Prince, which discusses political power and statecraft, not economics.