Adam Smith Understood ... Smith's Theory of Human ... The 19th century economist David Ricardo called this "comparative advantage" in his explanation of the benefits of free international trade.

Adam Smith is often considered to be the father of modern capitalism. At first glance, it’s not hard to see why. His most famous book, An Inquiry Into the Nature and Causes of the Wealth of ...

Just four months before The Declaration of Independence was adopted on July 4, 1776, Adam Smith published The Wealth ...

In doing so, however, they provide further evidence that Adam Smith got there first. Before discussing the concept of value in “The Wealth of Nations” (1776), Smith notes the importance of ...

When economists celebrate the 250th anniversary of the publication of Adam Smith’s The Wealth of Nations next year, US President Donald Trump’s mercantilism will constitute an incongruous ...

One area in which economists typically speak with one voice is international trade. They have been staunch advocates of free trade dating back to Adam Smith and David Ricardo. Throughout the post ...