Opinion

10 Enduring Lessons From Adam Smith

From technocrats to central planners, the temptation to engineer society persists. Adam Smith saw the dangers clearly.
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10 Enduring Lessons From Adam Smith
A statue of Adam Smith in Edinburgh, Scotland, in a file photo. Travel Telly/Shutterstock
Nikolai G. Wenzel
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Commentary
Adam Smith (1723–1790) is widely considered to be the father of modern economics. There were precursors, such as the School of Salamanca and the French Physiocrats, but Adam Smith’s 1776 magnum opus, “An Inquiry Into the Nature and Causes of the Wealth of Nations,” was the first comprehensive treatise.
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Nikolai G. Wenzel
Nikolai G. Wenzel
Author
Nikolai G. Wenzel is professor of economics at Universidad de las Hespérides and associate research faculty member of the American Institute for Economic Research (AIER). He is a research fellow of the Institut Economique Molinari (Paris, France) and a member of the Mont Pelerin Society.
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