On March 9, 1776, An inquiry into the nature and causes of national
wealth - often referred to simply as National Wealth - was published for
the first time. Smith, a Scottish, philosopher of ethics through
marketing, wrote the book to explain the industrial power system that
upsets the mercantilist system. Mercantilism emphasized that the economy
was limited. The only way to be successful is to hoard gold and tax
foreign trade. According to this theory, countries should sell their
products to other countries without buying anything. Predictably,
countries have entered into a form of reparative debt that has stifled
international trade.This free market force that Adam Smith called the
invisible hand needs support to work its magic. In particular, the
market resulting from the increasing division of labor, both in the
production process and in society in general, has created a system of
dependence. These relationships promote the common good through
individual profit motives.In other words, if you are a professional
baker and only produce bread, you will depend on someone else for
clothing, meat, and beer. In the meantime, the experts in clothing will
depend on you for their bread and other things. Economic growth occurs
when people want goods and services that they cannot produce themselves.
