
The Invisible Hand's First Draft
On 9 March 1776, Adam Smith published The Wealth of Nations — not the final word on economics, but the first coherent one. The discipline has been arguing with it ever since.
253 posts tagged with this keyword.

On 9 March 1776, Adam Smith published The Wealth of Nations — not the final word on economics, but the first coherent one. The discipline has been arguing with it ever since.

On 8 March 1963, a handful of young Ba'athist officers seized Damascus in a coup so bloodless and unremarkable that the population greeted it with indifference. Nobody noticed. That was the problem.

In 1826, a 30-year-old diplomat abducted a 15-year-old heiress with forged letters and a manufactured family crisis, married her at Gretna Green, and nearly got away with it. He served three years in prison. Then helped found New Zealand.

On 6 March 1475, Michelangelo di Lodovico Buonarroti Simoni was born in a small hill town in Tuscany. He went on to produce some of the most reproduced images in the history of Western civilisation, and died still working, at 88.

On 5 March 1953, Joseph Stalin died on the floor of his dacha, where he had lain unattended for the better part of a day. Nobody had dared go in to check.

On 4 March 1918, an Army cook reported sick at Camp Funston, Kansas. By noon, a hundred soldiers had the same symptoms. Within two years, the Spanish flu would kill more people than the war that spread it.

On 3 March 1938, an American drilling crew in the Saudi desert struck oil at Dammam No. 7. The well produced 1,585 barrels on its first day. Eighty-eight years later, that single strike has reshaped the global economy, bankrolled a kingdom, and made the politics of the twentieth and twenty-first centuries unimaginable without it.

On 3 March 1861, Alexander II freed twenty-three million Russian serfs. For his troubles, he was blown apart by a bomb twenty years later. The country he tried to modernise would soon tear itself to pieces.

On 2 March 1797, the Bank of England issued its first £1 and £2 banknotes — emergency paper to replace vanishing gold. The crisis measure became permanent. We still live with the consequences.

On 1 March 1692, three women were brought before magistrates in Salem Village, Massachusetts — the first act in a drama that would leave nineteen dead. The trials were small by European standards. The psychology behind them was not.