As we celebrate our independence, we also want to celebrate Adam Smith and the publication of his book, Wealth of Nations, which was first published in 1776. Although he was a Scotsman, Adam Smith provided a map to the mysteries of the U.S. market. Back then, the terms “economics” or “capitalism” were not used. Instead, Smith referred to a “system of perfect liberty.” Founding Fathers James Madison, Thomas Jefferson and Alexander Hamilton all cited Wealth of Nations in speeches, letters or reports. Smith’s book has played a critical role in shaping and explaining the field of economics as we see it today.