Second to none but perhaps Karl Marx, Adam Smith was the philosopher who gave the first accurate picture of the workings of capitalism. This is the economic system which can be described as one "run by the ... is still very relevant today as the first comprehensive analysis of the most successful economic system up-to-date, affecting the writing of all economic thinkers following him, most notably Marx and other socialist intellectuals. Smith's philosophy, as described in his book entitled Wealth of Nations (1776), is fairly straight forward to understand, yet has very powerful analyses of t...

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• Grade Level: Graduate