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when we think of a­ncient paga­n kings, the ideas of justice and fairness probably aren't the first things to come to mind. we moderns may be more likely to imagine fickle, power-hungry despots who were ready to put someone to death on a whim. but king hammurabi, who ruled a prosperous and thriving babyloniaalmost four millennia ago, doesn't quite fit that mold. he claimed to have protect the weak from oppression, and scholars believe he fostered an atmosphere of justice and righteousness for his people.

this belief is based on an object that was discovered only a century ago. it has already earned a place alongside the rosetta stone as one of the most important artifacts of the ancient world. this stela (stone pillar) bears the inscription of the code of hammurabi, and it has shed light on the laws, culture and life in babylonia.

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smith proposed the idea of the invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. smith is also known for his theory of compensating wage differentials, meaning that dangerous or undesirable jobs tend to pay higher wages to attract workers to these positions, but he is most famous for his 1776 book: "an inquiry into the nature and causes of the wealth of nations."

ultimately through the ideas presented in "the wealth of nations," smith changed the import/export business, created the concept of what is now known as gross domestic product (gdp) and argued for free exchange.

before the release of "the wealth of nations," countries declared their wealth based on the value of their gold and silver deposits. however, smith’s work was highly critical of mercantilism; he argued that instead countries should be evaluated based on their levels of production and commerce. this sentiment created the basis for measuring nation’s prosperity based on a metric called gdp.

before smith’s book, countries were hesitant to trade with other countries, unless it benefited them. however, smith argued that a free exchange should be created, as both sides trading become better off. this led to the increase in imports and exports and countries judging their value accordingly. smith also argued for a limited government. he wanted to see a hands-off government and legislation conducive an open and free market. smith did see the government responsible for some sectors, however, including education and defense.