Marking 250 years since The Wealth of Nations, the piece argues that key Smith ideas—like the invisible hand and division of labor—are often misread, and calls for a more balanced approach to ...

This year marks the 300th anniversary of Adam Smith, the iconic figure behind the theory of free markets, or of what we have since come to call “capitalism.” Born in June 1723, Smith went on to ...

The invisible hand is a concept introduced by economist Adam Smith. It refers to the self-regulating nature of markets where individual actions, driven by personal interests, contribute to overall ...

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 ...