Smith’s legacy in American politics

Adam Smith is often regarded as the father of modern economics, and his ideas have significantly influenced American political thought. His key work, "The Wealth of Nations," introduced concepts like free markets, individual self-interest, and competition as drivers of prosperity. Smith's advocacy for limited government intervention laid the groundwork for capitalism in the U.S., promoting the belief that economic freedom leads to innovation and growth. His legacy continues in contemporary debates on regulation and market dynamics, establishing a foundational understanding of how economic principles intersect with politics and governance.