None. The circumstances prevalent in the late 19th. and early 20th. century are fundamentally different from those a century later. read more
The first and second sentences of this citation appear pages 18 and 477, respectively, of my copy of Wealth (Chicago University Press, paperback), a span of some 450 pages, including most of three separate books of Smith's work. read more
Adam Smith was an 18th-century philosopher renowned as the father of modern economics, and a major proponent of laissez-faire economic policies. In his first book, "The Theory of Moral Sentiments," Smith proposed the idea of the invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. read more