By Aidan Hackett. Edited by Arjun Chandrasekar. Overview “It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own self-interest.” This famous Adam Smith quote from The Wealth of Nations truly sums up the whole of Smith’s philosophy on...Read More

By Aidan Hackett. Edited by Arjun Chandrasekar. The Story Prior to the industrial revolution, the economic theory of the day was “mercantilism”. This theory posited that trade was a zero sum game – that is, for me and my country to get wealthier, it was necessary that we had to steal the wealth from somewhere...Read More