Marxists tend to like the labor theory of value because it provides a vivid account of exploitation and highlights a basic ...

One framework for understanding markets is the invisible hand theory, an idea proposed by economist Adam Smith that illustrates the hidden, self-interested forces behind people's economic choices.

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.