New Delhi, March 12 -- In 1776, the year 13 American colonies declared independence from Britain, Adam Smith published his magnum opus An Inquiry into the Nature and Causes of the Wealth of Nations; 9 March marked the 250th anniversary of its publication. While breathless praise for it was aired in many parts of the world, residents of

Smith's Scottish hometown Kirkcaldy opted for a characteristically quiet pragmatism: a modest Heritage Centre and a plaque on a brick wall marking the spot where his childhood home was unceremoniously razed in the 19th century.

Globally, to the Right, Smith is the patron saint of 'greed is good,' a man whose book Thatcher reportedly brandished in her handbag like a holy relic. To the Left, he is the grand...