Adam Smith’s Invisible Hand

You may remember the name Adam Smith from high school—econ class, gov’t, or maybe history. What you may not remember, because it probably wasn’t taught, was that Smith gave us more than supply and demand terminology. He also identified for the first time (in a public and academic way) the idea that those societies who prospered the most were those that offered the most freedom in pursuing a vocation. So Smith helped provide a better response to those who pointed to race or class or some other innate quality as being the difference in skill or ability. He pointed us instead to specialization…

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