Adam Smith is one of the few historical thinkers whose work has stood the test of time. And it is more than a coincidence that he published his seminal work, The Wealth of Nations, in 1776, the year of our nation’s independence.

As we celebrate America’s 240th birthday next week, it’s worth reflecting on what was happening back then to drive so much innovation and growth, where have we faltered in more recent times, and the unfinished business we have ahead of us.

We need to help more people learn to think and act like capitalists. To create companies of businesspeople (instead of workplaces full of disengaged employees), where every stakeholder understands the fundamental economics of the enterprise.

Have a Happy Fourth of July. Read Full Post