Explain Adam Smith's theory of capitalism with respect to the American political-economic system?
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Please explain Adam Smith's labor theory of value.
a. Explain how labor determines exchange value through the concept of labor embodied value. Please describe production and labor value.
b. Explain the differences between market price and natural price.
How does Adam Smith's concept of the invisible hand explain why markets move toward equilibrium?
Explain why Adam Smith is the father of capitalism.