Since you bring up Smith, one of the absolutely glaring oversights of Wealth of Nations is that it utterly fails to grasp or note the role steam power would play in the next century of increasing automation, factory-system development, and transportation within England and the economies of Europe and North America especially.
This is all the more gobstopping an oversight when you realise that Smith not only know of James Watt and his steam engine, but was personally acquainted with Watt, personally arranged for him to have a position at the University of Glasgow, and that that was specifically to work and improve the University's own steam engine. Watt remained at that post for a decade or more if memory serves, much of that prior to the publication of Wealth in 1776.
This is all the more gobstopping an oversight when you realise that Smith not only know of James Watt and his steam engine, but was personally acquainted with Watt, personally arranged for him to have a position at the University of Glasgow, and that that was specifically to work and improve the University's own steam engine. Watt remained at that post for a decade or more if memory serves, much of that prior to the publication of Wealth in 1776.