By preferring the support of domestic to that of foreign industry, he [the entrepreneur] intends only his own security, and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.
—Adam Smith, Wealth of Nations, 1776*
THE WHITE HOUSE CALLED ME.
About a year after President Barack Obama took office, on the first anniversary of his major economic recovery legislation, his administration was struggling to get the word out that the legislation was, in fact, quite a success story. I found myself invited to the White House as part of a small ...