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 ...

How far back can one trace the origin of an idea? Adam Smith’s “invisible hand” may have hidden roots that stretch back to the days of nomadic hunting and gathering. Readers of this blog are already ...

The un-observable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically is the invisible hand.

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 ...