If you were unlucky enough to have taken an Economics 101 class you would have been told that Adam Smith is the father of mainstream economics. You would have been told about the invisible hand of the market and how competition leads to the best products.
What you were not told is how Smith thought the state is important in curbing the market and is important for undertaking infrastructural processes. He also had some regrets about the specialization of labor because of what it did to workers.
Read more in Michael Roberts’ Blog
