Learn about the "invisible hand," a key economic concept introduced by Adam Smith, and its implications in free markets.

Adam Smith was one of the first economists to develop the underlying principles of rational choice theory. Rational choice theory is often associated with the concepts of rational actors and the ...

Giovanni Arrighi’s Adam Smith in Beijing (2007) explores the rise of China as a global economic power through the lens of Adam Smith’s theories, particularly those in The Wealth of Nations. Arrighi ...

In doing so, however, they provide further evidence that Adam Smith got there first. Before discussing the concept of value in “The Wealth of Nations” (1776), Smith notes the importance of ...

Nordhaus offers a modern version of the labor theory of value, which in various versions dates at least to Adam Smith ’s “The Wealth of Nations” (1776), often taken to be the beginning of ...

Then there came his glare, with Smith appearing to look up to the commentary box. It was a stoney, yet, perhaps defiant look, with Adam Gilchrist offering up his theory on the moment to Fox Cricket.