In this paper it is argued that two kinds of capitalism are engaged in a great struggle in the United States. Both approaches are derived from the opinions of Adam Smith, the father of capitalism, who posited in The Wealth of Nations that universal self-interest and the “invisible hand” of...

Adam Smith demonstrated how self-interest and the “invisible hand” of the marketplace allocated scarce resources efficiently and promoted social welfare. Unfortunately, the invisible hand argument led to the belief that regulation is unnecessary and that “greed is good.” This paper uses...