Bernstein: Adam Smith’s “Wealth of Nations” Outdated As Robots Take Over World

As US President-elect Donald Trump threatens tariffs strategically targeted when semi-skilled manufacturing jobsleave the US, it might be a time to consider Adam Smith’s “Wealth of Nations.” Analysis from A|B Bernstein, however, notes that Smith’s economic classic may have outlived his usefulness in the era of robots and automation that know no national boundaries.

Adam Smith’s book was a benchmark for making capital allocation decisions

When it was published in 1776, when Englishman Adam Smith published his benchmark book, “Wealth of Nations,”...