An economic theory written in Scotland in the years before the creation of the United States has guided advocates of capitalism for centuries. Adam Smith first coined the phrase “invisible hand” of ...

The “Invisible Hand” is a hard concept to grasp for people who don’t believe in free-market economics, but the effects are all around us. When self-interested people act on their own interests, there ...

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 ...