An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets.[1]
The revolutionary fervor of the 18th century, influenced by Enlightenment ideals of liberty and equality, resulted in massive political upheaval across the world, starting with the American Revolution in 1776 and the French Revolution in 1789.
The principles expounded by the revolutionaries in Europe and their political success in overthrowing the autocratic rule of the monarch inspired similar movements in Latin America, first in Haiti (then the French colony of Saint Domingue), whose revolution began just two years after the start of the French Revolution.
At first, the white settler-colonists were inspired by the French Revolution to gain independent control over their colonies, but soon the revolution became centered on a slave-led rebellion against slavery and colonization, a trend that would continue throughout the America with varying degrees of success.
Soon after the French Revolution and its resulting political instability, Napoleon Bonaparte took power, further destabilizing the Latin American colonies and leading to more revolution.
The Peninsular War, which resulted from the Napoleonic occupation of Spain, caused Spanish Creoles in Spanish America to question their allegiance to Spain, stoking independence movements that culminated in the wars of independence, which lasted almost two decades.
At the time of the wars of independence, there was discussion of creating a regional state or confederation of Latin American nations to protect the area’s new autonomy, but after several projects failed, the issue was not taken up again until the late 19th century.
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