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Wealth of Nations By Adam Smith Though the exact date that Adam Smith was born is unknown, it is known that he was baptized on June 5, 1723 in Kirkcaldy and died on July 17, 1790 in Edinburgh and was buried in the Canongate churchyard. Adam Smith remains a tower figure in the history of economic thought. Although he is primarily known for a single work, Wealth of Nations, the first comprehensive system of political economy, he is regarded as a social philosopher whose economic writings constitute views on political and social evolution. “Wealth” in essence means “well-being”; Smith's book is in fact about material well-being. The Wealth of Nations is an influential statement of the case for laissez-faire, the theory that government should not attempt to control or direct economic activity. Smith’s a