The influential philosopher behind the development of capitalism is Adam Smith. His seminal work "The Wealth of Nations," published in 1776, laid the foundational principles of classical economics and market capitalism. Smith advocated for free markets, the division of labor, and the "invisible hand" concept, suggesting that individuals pursuing self-interest in a competitive economy would result in economic prosperity and societal benefits. His ideas significantly influenced economic policies and practices, promoting the belief that minimal government intervention in the market would lead to efficient resource allocation and overall wealth creation.