Source: Ludwig von Mises Institute
by Joseph Solis-Mullin
“Every year around the anniversary of the publication of The Wealth of Nations (1776), economists and commentators repeat a familiar story: Adam Smith — the Scottish moral philosopher — is celebrated as the father, or even the inventor, of economics. In this telling, Smith stands at the beginning of a scientific tradition, single-handedly discovering the principles of the market economy and the virtues of free trade. But this story is less history than myth.” (03/24/26)