Category: Adam Smith

  • Adam Smith’s View on Government Intervention

    As a Ph.D. student of Economic history, I love Adam Smith’s ideals. However, I want to clarify some binary thinking that is pervasive in the collective unconsciousness about the economic theory of Adam Smith. Adam Smith was a free-market economist. I am not taking that away from him. But his stance on government was not […]

  • Free trade vs Protectionism

    There is a lot of criticism of how we are sending US jobs abroad. As someone who believes in the free market, it is often hard for me to defend against this. Free trade vs protectionism is an old debate. Even I have doubts, then my doubts have doubts. So if you are someone who […]

  • Adam Smith Laissez-Faire

    Was Adam Smith laissez-faire? What did it mean that Adam Smith was laissez-faire? This asks another question, did Adam Smith really support an economy free from government interference? Generally yes, but there is more to the story and it is worth trying to understand more on the subject. The most important thing is to understand […]

  • Wealth of Nations in PDF for free

    An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith Everyone talks about Adam Smith but how many people actually have read him? His book can change your life the way you understand politics and economics. People say OK free trade and the invisible hand, however, there is a lot […]

  • Adam Smith on how to make money

    Did you know Adam Smith outlines why people are poor and others are rich? If you apply his thinking to a modern free information global economy, you can free yourself from poverty and make money. With this insight from a great economist from the past, you can add value to society as well as have […]

  • Adam Smith on division of labor

    Call me an idealist but I agree with the enlightenment philosopher Adam Smith when it comes to people’s abilities. I believe the effects of the division of labor, education, and character are responsible for a person a lot in life and not a genius or genetic ability. It is a fairy-tale and lies of some […]

  • Adam Smith on socialism

    The purpose of this post is to answer the question of what were Adam Smith’s views on Socialism. Some people believe Adam Smith was a socialist. What would Smith think of the world today and the state-run economies? Is it all that bad? The wonderful world of Adam Smith was not so wonderful. There was […]

  • Adam Smith on Women

    Adam Smith on Women

    What did Adam Smith think of the effect of wealth on women and family? This is an interesting question as many American guys complain that American society has become so wealthy that it has corrupted women’s ability to provide a happy family life.  They feel American women are spoiled and do not make good mothers […]

  • Adam Smith’s Invisible Hand

    The invisible hand conceived by Adam Smith is the most significant argument against socialism, Kings, Queens, technocrats, bureaucrats, and social engineers. The theory was expressed in the An Inquiry into the Nature and Causes of the Wealth of Nations in 1776 and elements of his philosophy in The Theory of Moral Sentiments in 1759. The invisible hand is real […]

  • Adam Smith – How Countries get Rich

    Why and how countries get rich? Adam Smith explained it clearly. In terms of supply and demand but also in terms of the ability for a nation to produce quality output that would be demanded by others. The metaphor can be applied to your personal financial situation and is obvious if you can also create […]