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Spoiler alert: no (Smith was not a moral idiot).
"How did this happen? How did Smith’s ideas become so thoroughly integrated into conservative defenses of the free market against regulation? And are these the only ways of reading his work?"
@cyrilpedia Freakonomics did a 3 episode deep dive inti Adam Smith - highly recommended!
Here is a link to part 2; it is most relevant to your post.
https://podcasts.apple.com/us/podcast/freakonomics-radio/id354668519?i=1000590231312