George Gilder and Gale Pooley may point to an application in which a version of it should be revived.

The labor theory of value is one of Marxism’s most contested ideas. Both critics and supporters of socialism have labeled it inconsistent and outdated. In an interview with Jacobin, economist ...

Conversely, if profits or wages are too low in one trade area, there will be an exodus of capital and labor ... Smith's theory does unquestionably lead to a doctrine of laissez-faire. To Adam ...

One framework for understanding markets is the invisible hand theory, an idea proposed by economist Adam Smith that illustrates ... may be of the greatest value, he intends only his own gain ...