What event in history had the greatest influence on the development of laissez-faire capitalism?

The Industrial Revolution, which began in the late 18th century, had the greatest influence on the development of laissez-faire capitalism. This period marked a significant shift from agrarian economies to industrialized ones, emphasizing free markets and minimal government intervention. The rise of factories and mass production fostered competition and innovation, allowing entrepreneurs to thrive. Additionally, the works of economists like Adam Smith, particularly his seminal book "The Wealth of Nations," provided the philosophical foundation for laissez-faire principles, advocating for economic freedom and the invisible hand of the market.