Adam Smith on wealth, power, and the self-correcting nature of markets

🫧 Open on Bubbles Last week (see here and here ), I mentioned how I recently re-discovered that Adam Smith published a 79-page pamphlet in 1784 containing 13 separate inserts or “additions” to the first two editions of The Wealth of Nations (1776, 1778). Of these 13 inserts, the first two additions correspond to Volume 1 of his magnum opus. (The first two editions of The Wealth of Nations were originally printed as a two-volume set.) First off (Addition #1 to Vol. 1 of WN), Smith explores the relationship b