Edit the following paragraph to make any wordy sentences as short as possible without changing their meaning.

Adam Smith, the founder of modern economics, proposed a theory that made controversial economist educated in England, wrote the first study of political economy. The wealth of Nations published in the same year that Americans declared their independence from England in 1776. Smith´s book pointed out and directed attention to the interdependence of freedom and other, economic processes, and free trade laws. Although his influence during his lifetime did not affect economic than in the next century. "the invisible hand" and "laissez faire" are synonymous with Smith´s name. History has only made Smith´s ideas ore controversial. A lot of people say "He was a good man- really understood how business works" and many people sayd "He was an evil man-really sold the average citizen down the river." Both reactions are extreme, but indicate controversy aroused by Smith´s ideas is still alive.