Capitalism: A Global History, by Sven Beckert, Penguin Press, 1,344 pages, $49 Adam Smith, widely considered the first major ...

Discover the evolution of international trade agreements from mercantilism to modern global trade, highlighting trends in multilateral and regional arrangements.

Kirkcaldy, a small town on Scotland’s east coast, is a nice place. But aside from a small alleyway, Adam Smith Close, the town has largely forgotten that Adam Smith lived there. The Adam Smith ...

The academic economist’s dry prose usually benefits from an evocative metaphor. But we would all be better off if Adam Smith had skipped the bit about “the invisible hand.” He meant little, if ...