Economic freedom as a development resource

One of the most enduring questions in economics is what causes economies to grow. The full title of Adam Smiths An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776, clearly shows that the causes of prosperity were Smiths primary concern. He concluded that free markets, the protection of of private property rights, and a minimal government presence in the economy lead to prosperity. In other words, economic freedom leads to economy growth.