What Illustration and connection does Adam Smith have with JCPENNY and Sears?

The question looks at the connection between Adam Smith, a Scottish author and political philosopher (1723-1790), and the US department store chains of J.C.Penney and Sears-Roebuck & Co.

Adam Smith is perhaps most well-known among students for his treatise "An Inquiry into the Nature and Causes of the Wealth of Nations", published in 1776.  The work is generally thought of as a conceptual foundation for free-market economics, that is economic interaction which is left as...

The question looks at the connection between Adam Smith, a Scottish author and political philosopher (1723-1790), and the US department store chains of J.C.Penney and Sears-Roebuck & Co.

Adam Smith is perhaps most well-known among students for his treatise "An Inquiry into the Nature and Causes of the Wealth of Nations", published in 1776.  The work is generally thought of as a conceptual foundation for free-market economics, that is economic interaction which is left as much as possible as a free-will exchange between producer and consumer (or buyer and seller).  Most importantly, perhaps, is its thesis that people acting in their own natural economic self-interest will automatically result in a system which maximizes total economic value and well-being.  These results occur as if moved by "an invisible hand", rather than having to be designed and engineered by any formal power (such as government).

The core element of this marketplace is the free competition of producers in their efforts to provide the best total value to consumers.  The manifestation of this approach can be seen in the function of the ancient marketplace, such as the Greek agora (see the reference below for a good description of ancient agoras).  Open marketplaces still hold an allure for consumers (e.g. the rising popularity of weekend farmer's markets in major cities).

The breadth and variety of goods available for sale exploded during the industrial age.  As such, a consumer in the 1800's could scarcely go to a single location and peruse an adequate variety of offerings for all of the items of life.  The result was that many consumers, especially in rural settings, were limited to selection among very few competing producers for many manufactured wares.  Sears addressed this gap through its catalog marketing.  Through the catalog, a person could see many competitors for all manner of items, discern differences in quality and price, and make decisions which maximized value.  In other words, the catalog provided the function of an open, free market.  As urban areas grew, the concept led to the development of department stores, in cities with sufficient population to support them.  These provided the same role as the catalogs while also providing the immediacy of being able to purchase many items on the spot.  In both cases, the key concept was providing access to variety and competition, exactly what Adam Smith hypothesized would lead to maximum wealth and well being.