Adam Smith was a Scottish economist and philosopher who taught that the health of a country’s institutions dictates the wealth of that country. He argued that societies can become not only wealthier but more equitable when there is a security of property rights by the administration of justice by an honest legal system. While fully unregulated capitalism can lead to harmful levels of concentrated power, Smith’s ideas catalyzed the formation of new economic structures that more people to meet their basic needs met and helped create a more stable and secure society. His work shows that trust in our institutions and each other enables greater happiness and prosperity for everyone.