Wordy sentences

Hello! here we have another exercise pretty similar to the previous one. We have to edit a paragraph in order to make it shorter.I tell you...it was entertaining.
Edit the following paragraph to make any wordy sentence as short as possible without changing their meaning. Rule numbers in the margin refer to a appropiate strategies in section 16. The first wordy sentence has been revised for you.
Adam Smith, the moder economics founder, proposed a theory in the eighteenth century that made him controversial. This British economist, born in Scotland and educated in England, published the first complete study of political economy named The Wealth of Nations, in 1776. Smith's book pointed out to the independence of freedom and order, economic processes and free trade laws. His thinking was considerable although did not affect economic policies during his lifetime. Among economists, "the invisible hand" and "laissezfaire"are synonymous with Smith's name. To conservative businesspeople, Smith was a good man who really understood how business works, but to liberal reformers he was totally the opposite. Both reactions are extreme and prove that the controversy aroused by Smith's ideas is still alive.