it's true.

if you were to go back in a time machine and have an economic discussion with adam smith, he wouldn't know what the word 'capitalism' means - because it was invented by karl marx to describe the phenomenon of appropriation, many decades later.

adam smith would have just called himself a liberal, and his theory of free markets liberalism.

but, you have to remember that he also had that book on morality. he might have been naive, but he wasn't evil.

the word 'capitalism' arises out of the marxist critique of liberalism.