In their letter “The Virtues of the ‘Knowledge Theory of Value ... knowledge in economic value. In doing so, however, they provide further evidence that Adam Smith got there first.

Nordhaus offers a modern version of the labor theory of value, which in various versions dates at least to Adam Smith’s “The Wealth of Nations” (1776), often taken to be the beginning of ...

Chew traces the ur-moment of this revival of America’s corporate and stock market fortunes, and the invention of “modern corporate finance”, to a classroom at Carnegie-Mellon university in 1957 when ...

One framework for understanding markets is the invisible hand theory, an idea proposed by economist Adam Smith that illustrates ... may be of the greatest value, he intends only his own gain ...

For Smith's theory does unquestionably lead to a doctrine of laissez-faire. To Adam Smith the least government is certainly the best: governments are spendthrift, irresponsible, and unproductive.

Excerpt from Paper Money by "Adam Smith," (George J.W. Goodman), pp ... and the Italian lira all had about equal value, and all were exchanged four or five to the dollar. That was in 1914.