No economist's name is more frequently invoked than that of Adam Smith. The brilliant and sympathetic man has been turned into a cardboard cutout. Our mission today is to try to turn the cardboard cutout back into the real Adam Smith. He was born in 1723 in Kirkaldi, Scotland - just across the 4th from Edinburgh.
How did an affable 18th-century “moral philosopher” become the patron saint of cutthroat capitalism? Does “the invisible hand” mean what everyone thinks it does? We travel to Smith’s hometown in Scotland to uncover the man behind the myth. (Part 1 of a series.)