Answer:
"The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity and judgement with which it is anywhere directed, or applied, seem to have been the effects of the division of labour."
Adam Smith, The Wealth of Nations, 1776
Explanation:
Adam Smith was a Scottish moral philosopher interested in a comprehensive analysis of the principles of society. He was one of the key figures in Scottish Enlightenment. Smith is considered to be the father of political economy and modern economics, an early supporter of free trade and a central classical liberal.
His most famous work is the Wealth of Nations, published in 1776. In it, Smith presents his analysis of the origin of the recent prosperity of certain countries, such as England or the Netherlands. He develops economic theories on the division of labor, the market, money, the nature of wealth, the price of goods in labor, wages, profits and the accumulation of capital. He examines different systems of political economy, especially mercantilism and physiocracy. It also develops the idea of a natural order, the "system of natural freedom", resulting from the individual interest being resolved in the general interest by the game of free enterprise, free competition and free trade.
