Why did people buy all that Nutella? And how can we explain it?
Complex systems, like economies, require common mediums of exchange, like money, to increase their efficiency.
Adam Smith praised specialization; however, was he entirely correct in doing so? read on to find out.
Adam Smith has some important lessons to teach us about Artificial Intelligence. His discussion on the division of labour seems to suggest general AI is the wrong way to go.
In this essay, I discuss the dangers of conflating consumption with human psychology, something Adam Smith does in his wealth of nations.