73 Adam Smith

James II was building a powerful militarised state on the assumption that the world's wealth was necessarily finite and empires were created by taking land from other states. The East India Company was thus an ideal tool to create a vast new English imperial dominion by warring with the Dutch and the Mogul Empire in India. After 1689 came an alternative understanding of economics, which saw Britain as a commercial rather than an agrarian society. The proponents of this view, most famously Adam Smith in 1776, argued that wealth was created by human endeavour and was thus potentially infinite. WIKIPEDIA: https://en.wikipedia.org/wiki/Glorious_Revolution