Adam Smith wrote about free-market incentives nearly 250 years ago, describing them as the “invisible hand” of capitalism.

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 ...

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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 ...