General Business News

The myth that holds Adam Smith's Wealth of Nations together

Author: The Conversation

A fantasy about free markets in primitive society lies at the heart of Adam Smith's wealth of nations – but did they ever exist?Steve Rhodes/Flickr

Adam Smith’s Wealth of Nations (1776) is often called the Bible of capitalism. Like the Bible, it is not known for careful arguments based on detailed data, but rather for its powerful...

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