Adam Smith has become the symbol of American capitalism, a champion of free trade and a free market. But it wasn’t always ...

Smith helped lay the foundation for our economy and the wealth that it has created for its citizens. With this in mind, on July 4, 2026, we should each enjoy some haggis with our hot dogs. This is a ...

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In their letter “The Virtues of the ‘Knowledge Theory of Value’” (May 1), Gale Pooley and George Gilder emphasize the importance of knowledge in economic value. In doing so, however, they provide ...

"The text printed here is that of the third edition of 1784." ...

The United States pursued a similar strategy after the Civil War. President Lincoln imposed a 10% Income Tax during the war; this was eliminated in 1872. The dollar also floated, the infamous ...

Building a good tax system is not easy. The Scottish economist Adam Smith, in his 1776 book The Wealth of Nations, said a ...