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Where Prices Come From
Daniel Kovač · Economics desk · published 12 Sep 2026 · cnt_48a2 · no previous corrections · 21,300 readsFactual errorFrom a reader · r***@gmail.com · 25 Sep 10:12 BST“The piece says The Wealth of Nations came out in 1767. It was published in 1776. The first-edition title page shows the date.”Submitted source · Primary source · first-edition title page, 1776 · library catalogue recordAdd to sources
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A price is a signal. It tells a baker how much people value bread today, and a farmer whether to plant more wheat next year.
Flagged by 3 readersWhen Adam Smith published The Wealth of Nations in 1767, he described this as an “invisible hand”: people chasing their own gain end up serving others.
Smith was not describing a world without rules. He wrote at length about monopolies and guilds.
Fact-check recordDate not listed as a claim
Also appears inLesson “What Money Is”, card 2
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