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 ...

The tercentenary of Adam Smith’s birth is an opportunity to consider how his insights into the dynamics of economic growth continue to shape our understanding of the world today. But what if the ...

Why are some countries wealthy while others remain poor? What must a nation do for its economy to grow? The origins of modern economics lie in these ...

Anna Plassart does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

Excerpt and condensation of Chapter 4 from The Worldly Philosophers: The Lives, Times, and Ideas of the Great Economic Thinkers by Robert L. Heilbroner, 7th ed., 1999. Robert Heilbroner's The Worldly ...

George Gilder and Gale Pooley rightly note that a useful measure of how much things cost is how long we must work to earn enough to purchase them (“We Should Measure Prices in Time,” op-ed, April 17).

Scotland and Edinburgh in the latter half of the 18th century were uncommonly prolific of genius. This year we celebrate the 300th anniversary of the birth of Adam Smith, and the coming years will see ...

Explore how military spending influences economic growth, private sector development, and technological advancement. Discover the balance between military budgets and public needs.