Person

Adam Smith

Related Excerpts

Adam Smith (left), George Stigler (center), Milton Friedman (right), Hyde Park streetscape in the background.

The Localist

Why did Chicago become the headquarters of free market fundamentalism? Adam Smith offers a clue.
A shattered painting of Adam Smith.

The Betrayal of Adam Smith

How conservatives made him their icon and distorted his ideas.
Adam Smith.

The Contradictions of Adam Smith

Smith's influence on American politics, and the misunderstanding at the heart of our idea of the "champion of capitalism."
The image displays two duplicate portraits of Adam Smith. One is upside down.

The Mysteries of Adam Smith

How to understand Adam Smith’s politics.

Hamilton’s System

Who is the father of American capitalism?
Statue of Liberty's torch.

Why the Philosophers Libertarians Love Always Come Out Worse for Wear

Adam Smith and Friedrich Hayek have been through the wringer.
Protester in a march, holding a sign that reads "Bank on the future."

The Way We Talk About Climate Change Is Wrong

The language of “sacrifice” reveals we’re stuck in a colonial mindset.
Alexander Hamilton on the ten dollar bill

What We Still Get Wrong About Alexander Hamilton

Far from a partisan for free markets, the Founding Father insisted on the need for economic planning. We need more of that vision today.

How the Chicago School Changed the Meaning of Adam Smith’s ‘Invisible Hand’

Smith wasn’t warning about government intervention in the market; he was warning about government capture.

Unrevolutionary Bastardy

A review of a "The Low Road," a “mordantly anti-Hamiltonian” play that made its debut at New York's Public Theater this spring.
Screenshot of soldiers and an explosion.

Noam Chomsky on How America Sanitizes the Horror of Its Wars

On the origins of America's hegemonic foreign policy.
Ibn Khaldun

The Muslim Thinker Who Inspired Reagan

How Ibn Khaldun influenced the president and a generation of conservative tax policy.
Photo of United States bill, saying "In God We Trust."

The Deep Religious Roots of American Economics

Any attempt to understand the complexities of American economic thought without considering the significant role of religious beliefs is incomplete.
Treasury Secretary Timothy Geithner testifying before the Senate Budget Committee in 2009.

The Intractable Puzzle of Growth

The key measure of a healthy economy has long been growth, yet if production and consumption expand at their current rate we risk the health of the planet.
Illustration of a man typing on his laptop on a rollercoaster ride.

Work Sucks. What Could Salvage It?

New books examine the place of work in our lives—and how people throughout history have tried to change it.
Franklin D. Roosevelt’s 1933 presidential inauguration.

The First New Deal

Planning, market coordination, and the National Industrial Recovery Act of 1933.
Branko Milanovic, 2017.

The Problematic Past, Present, and Future of Inequality Studies

An intellectual history of inequality in economic theory reveals the ideological reasons behind the field’s resurgence in the last few decades.
Collage depicting shipping containers, a scale weighing American dollars, and a screen of numbers and percentages

Free Trade's Origin Myth

American elites accepted the economic theory of "comparative advantage" mainly because it justified their geopolitical agenda.
Axe chopping down columns

The Rise and Fall of Neoliberalism

The free market used to be touted as the cure for all our problems; now it’s taken to be the cause of them.
Calculating machines.

Plantations, Computers, and Industrial Control

The proto-Taylorist methods of worker control Charles Babbage encoded into his calculating engines have origins in plantation management.