James Otteson is the executive director of the BB&T Center for the Study of Capitalism, and Teaching Professor of Political Economy, at Wake Forest University in Winston‐​Salem, North Carolina. He also serves as a Senior Scholar at the Fund for American Studies, a Research Professor in the Freedom Center and Department of Philosophy at the University of Arizona, and a Research Fellow at the Independent Institute in California.

Why are some countries wealthy while other nations are poor? Prof. James Otteson, using the ideas of Adam Smith, explains how the division of labor is a necessary and crucial element of wealthy nations. Additionally, Otteson explains Smith’s idea of the invisible hand, which explains how human beings acting to satisfy their own self interest often unintentionally benefit others.

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