Heterodox
Last month Keynes' General Theory was 80. Today Adam Smith's Wealth of Nations turns 240 (h/t Paulo Gala)! Below the often misunderstood quote on the notorious invisible hand. He says: "As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value; every individual necessarily labours to render the annual revenue of the society as great as he can. He...
Read More »Wealth of Nations at 240
