Adam Smith’s Wealth of countries stressed with the importance of supply and demand. Which social change occurred during the Industrial Revolution. Growth of the working class. Adam Smith was a big believer in the power of the market economy.
Adam Smith is known as father of economics. We can get his ideas about economic development from his well-known book, “An Enquiry into the character and Causes of Wealth of Nations” (1976) which has tremendously influenced the brooding about economic process and development.
