Margaret Thatcher is said to have carried a copy of the “Wealth of Nations”, Adam Smith's most famous work, in her handbag. Britain's most famous economist appears on the back of £20 notes. Yet while a few stock ideas are associated with him—the “invisible hand”, the division of labour, self-interest—what he actually wrote is often misinterpreted.
Jesse Norman, a British member of parliament who trained as a philosopher and is one of the Conservative Party's best brains, wants to put that right. Author of a celebrated biography of Edmund Burke, Mr Norman not only explains Smith's writings, which ranged from astronomy to colonialism, but also shows that they are still relevant today.
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