Adam Smith and the Origins of American Enterprise：How the Founding Fathers Turned to a Great Economist's Writings and Created the American Economy

AdamSmith,aScottishProfessorofMoralPhilosophy,publishedhisclassicWealthofNationsin1776,theyeartheAmericanRevolutionbegan.Smithbecamewidelyknownforhisideasoffreemarkets,laissez-fairecapitalism,andthe'invisiblehand'ofawealth-creatingbusinesssociety.YetBritishpoliticiansandthelandedgentrypaidlittleattentionandenactednoneofSmith'ssuggestedreforms.Smithwasreadavidly,however,bytheFoundingFathers,includingAlexanderHamilton,JamesMadison,andBenjaminFranklin.KnowingthatunlessasoundandprosperouseconomycouldbecreatedinAmerica,theexperimentindemocracymightfail,andtheyturnedtotheideasofAdamSmithtocreateandjump-startaneconomicsystemforAmericawithbothimmediateandlong-sustainedresults.