Detlef recently reminded me that capitalism was not "invented." In his view, it is simply the default state of affairs: how people tend to organise economic life when they are free to trade, specialise, and improve their circumstances. That is probably correct. Capitalism may not have needed inventing. What Adam Smith did, when he published An Inquiry into the Nature and Causes of the Wealth of Nations in 1776, was something far more useful: he explained how it works.
Written by and for the former staff of UNICEF