It represents one of the main foundations on which the liberal economy was built. It carried the nucleus of global capitalist economic thought, which was able to change traditional economic theories into free economic concepts. In it, Adam Smith considered that the wealth of nations is primarily measured by their productive capabilities, and that productivity as a measure of wealth can be doubled through the division of labor, unlike natural resources. Smith's theory dealt extensively with the distribution of wealth in society, the means of organizing trade and the division of labor, in addition to his theories of market freedom, the relationship between the market and the organization of work, the role of the state, methods of promoting economic movement and encouraging investment, and others.
It was based on the ideas of the book The Wealth of Nations and established complete economic systems that gradually developed until they reached the meanings of the global economy, capitalism, free economies, globalization, and other concepts.