This week its 250 years since the publication of Adam Smith's magnum opus The Wealth of Nations.

Too often this book is read in isolation from the rest of his work, which leaves important normative aspects of his political economy ignored....

while interpretations of the WoN itself are too often based on selective quotations & partial understanding of his analysis of markets.

You'll see a lot of claims Smith is the celebrant of unfettered free markets;

read WoN & find he isn't!

#economics