We should know Adam Smith as the father of capitalism. His crowning achievement became free market gospel, but somehow he is left out of the Wall Street brochure. The ignorance of Adam Smith’s ...
Adam Smith has become the symbol of American capitalism, a champion of free trade and a free market. But it wasn’t always that way. In fact, it sometimes seems as if capitalism and America share the ...
The academic economist’s dry prose usually benefits from an evocative metaphor. But we would all be better off if Adam Smith had skipped the bit about “the invisible hand.” He meant little, if ...
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