Podcasts about The Wealth of Nations

Sitting in for Thom Hartmann is guest-host Alex Lawson, Executive Director of Social Security Works, and convening member of the Strengthen Social Security Coalition. Today Alex talks with Mary Hill, VP & Co-Founder C.A.U.S.E., about the power of workers in a system where wealth comes from labor.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Adam Smith's “Wealth of Nations” was published in 1776, shortly before America's Declaration of Independence. Smith famously described an “invisible hand” at work behind markets and exchanges, but what did he really mean, and how have so many people misunderstood his many ideas about trade, markets, and free enterprise? Professor Brianne Wolf discusses Smith in […]

Adam Smith's “Wealth of Nations” was published in 1776, shortly before America's Declaration of Independence. Smith famously described an “invisible hand” at work behind markets and exchanges, but what did he really mean, and how have so many people misunderstood his many ideas about trade, markets, and free enterprise?Professor Brianne Wolf discusses Smith in surprising terms: he was first concerned with human morality and behavior, in the connections and community that individuals built with one another. Trade and economics were downstream of those fundamentals. Beyond that, Smith's explanation of the advantages of markets over central planning or forced commerce are not well-known today - despite their relevance in the face of arguments in favor of government control of economic behavior.Read Bri's article on Smith: https://tinyurl.com/5yuwsc9bHost: Jeff SikkengaExecutive Producer: Jeremy GyptonSubscribe: https://linktr.ee/theamericanideaHomepage: https://ashbrook.org/the-american-idea-podcast/

In this episode of 1050 Bascom, Evan is joined by Professor Michelle Schwarze to learn about Scottish philosopher and political economist Adam Smith amidst the 250th anniversary of his book "The Wealth Of Nations," and to discuss how his work plays into modern political theory.

Welcome to our new series, The Hayekian Triangle. This series will feature a range of conversations between our hosts: Virgil Storr, Chris Coyne, and Peter Boettke. On this episode, the three sit down to mark the 250th anniversary of Adam Smith's The Wealth of Nations — and to ask a deceptively simple question: why are we still reading a book written a quarter-millennium ago?From the invisible hand to the division of labor, Smith's ideas have become so embedded in how we think about markets and society that it's easy to forget just how radical they originally were. Virgil, Chris, and Pete dig into what Smith actually said, why the standard takes on laissez-faire and self-interest so often miss the mark, and what a Scottish moral philosopher writing in 1776 still has to teach us about wealth, poverty, and the institutions that make human flourishing possible.Whether you're coming to Smith for the first time or returning to him with fresh eyes, this conversation is a reminder that the greatest works in political economy aren't monuments to be admired from a distance — they remain living inputs into the science of today.**This episode was recorded on April 3, 2026**Show Notes:Adam Smith, The Wealth of Nations (Liberty Fund, 1982)Adam Smith, The Theory of Moral Sentiments (Liberty Fund, 1982)Kenneth Boulding, "After Samuelson, Who Needs Adam Smith?" (History of Political Economy, 1971)Kenneth Boulding, "Economics as a Moral Science" (The American Economic Review, 1969)Daron Acemoglu and James Robinson, The Narrow Corridor: States, Societies, and the Fate of Liberty (Penguin Press, 2019)Raghuram Rajan, The Third Pillar: How Markets and the State Leave the Community Behind (Penguin Press, 2019)Deirdre McCloskey, The Bourgeois Virtues: Ethics for an Age of Commerce; Bourgeois Dignity: Why Economics Can't Explain the Modern World; Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World (University of Chicago Press, 2006, 2010, 2016)Martha Nussbaum, The Cosmopolitan Tradition: A Noble but Flawed Ideal (Belknap Press/Harvard University Press, 2019)Ludwig von Mises, “Why Read Adam Smith Today?” (FEE, 2015)Richard Ebeling, "Celebrating Adam Smith's Wealth of Nations at 250 Years" (Future of Freedom, 2026)If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.Check out our other podcast from the Hayek Program! Virtual Sentiments is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today!Follow the Hayek Program on Twitter: @HayekProgramFollow the Mercatus Center on Twitter: @mercatusCC Music: Twisterium

Jon Hartley and Niall Ferguson explore Niall's career, the power of networks in his books The House of Rothschild volume one (1998) and volume two (1999), and The Square and the Tower (2017); the rise and fall of empire in his books Empire (2003) and The Great Degeneration (2013), America's global role in his book Colossus (2005), and the enduring legacy of Adam Smith on the 250th anniversary of The Wealth of Nations—as well as the Anglosphere, economic growth, and the rise of 21st-century socialism. Recorded on March 23, 2026. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

What can Adam Smith teach us today? In this conversation between Ross Levine of Stanford's Hoover Institution and EconTalk's Russ Roberts, Smith emerges as a penetrating psychologist who understood that our deepest hunger isn't for wealth but for respect--and that this hunger, left unexamined, leads individuals and societies alike into serious trouble. The discussion moves from the personal (why do highly successful people keep grinding long after they've "won"?) to the political: Smith's sobering warning that when a society admires wealth and power for their own sake, it breeds servility and undermines freedom. Along the way, there's a Marxist father reading Smith during COVID, a Nobel-adjacent economist who couldn't understand why anyone would bother with a 1759 book, and a childhood story about loyalty and friendship that cuts to the heart of what we may have lost in modern culture. This is a conversation about how to live well--using one of history's greatest thinkers as a guide.

Cody Cook welcomes Eamonn Butler, British economist and co-founder/director of the Adam Smith Institute, for a timely discussion marking the 250th anniversary of Adam Smith's seminal work, An Inquiry into the Nature and Causes of the Wealth of Nations (published March 9, 1776). Butler, author of primers on Hayek, Friedman, and Mises, shares insights from his work studying and promoting the ideas of Adam Smith.The conversation explores Smith's enduring legacy as the father of modern economics, rooted in the Scottish Enlightenment. Butler explains how The Theory of Moral Sentiments (Smith's earlier work on virtue, sympathy, empathy, and justice) underpins The Wealth of Nations, showing that self-interest in markets—when guided by moral foundations like trust and honesty—produces social harmony via the famous "invisible hand." Rather than benevolence alone, we get our bread from the baker's self-interest, yet this serves society beneficially.Smith's revolutionary ideas shine through: the division of labor (illustrated by his pin factory example boosting productivity dramatically), national wealth as productive capacity (not hoarded gold), the benefits of free trade, opposition to tariffs, monopolies, and mercantilism (which he saw as cronyism enriching the few at others' expense), and limited government to prevent corruption and rent-seeking.Butler also addresses common misconceptions: early capitalism Smith opposed slavery not just morally but economically, arguing it stifles incentives and efficiency. He contrasts this with critics like Thomas Carlyle, who dubbed economics the "dismal science" in defense of hierarchy and authoritarianism. The episode tackles modern critiques from both left and "new right," defending self-interest (prudent and long-term) against charges of short-sighted selfishness, and refuting claims that markets idolize materialism or erode meaning—pointing to how prosperity enables philanthropy, education, leisure, and cultural flourishing.Smith's framework rejects the "man of system" (central planners treating people like chess pieces), favoring emergent order from individual actions under justice. Butler highlights real-world successes: globalization and market liberalization since the 1990s have nearly eradicated extreme poverty for billions, far outperforming decades of socialism.The discussion ties Smith's ideas to Christian liberty, noting his deistic leanings, regular churchgoing, and emphasis on virtue. It compares the 1776 publications: The Wealth of Nations (providing a blueprint for prosperity and freedom) vs. the Declaration of Independence (asserting independence), with Butler arguing Smith's work has greater long-term impact on liberty.This episode offers a refreshing, faith-informed defense of free markets, countering cronyism and statism while celebrating Smith's vision of human flourishing through competition, trust, and voluntary exchange. Perfect for libertarians, Christians, and anyone interested in economics' moral foundations—especially timely in 2026.Links:The Adam Smith InstituteThe Wealth of NationsThe Theory of Moral SentimentsAudio Production by Podsworth Media - https://podsworth.com Use code LCI50 for 50% off your first order at Podsworth.com to clean up your voice recordings and also support LCI!Full Podsworth Ad Read BEFORE & AFTER processing:https://youtu.be/vbsOEODpQGs  ★ Support this podcast ★

Let's relax and sleep with more from this classic of economic theory. This time, the wages of labor, the backroom collaboration of owners to undercut those wages, and the importance of paying more than subsistence for national success. Wait, what?   Help us stay ad-free and 100% listener-supported! Patreon: https://www.patreon.com/boringbookspod Buy Me a Coffee: https://www.buymeacoffee.com/d5kcMsW   Read "The Wealth of Nations" at Project Gutenberg: https://www.gutenberg.org/ebooks/3300   Music: "earth 2 earth" by PC III, licensed under CC BY   If you'd like to suggest a copyright-free reading for soft-spoken relaxation to help you overcome insomnia, anxiety and other sleep issues, connect on our website, https://www.boringbookspod.com.

Most people associate Adam Smith with free markets and “the invisible hand”. But does this conventional narrative purposefully ignore Smith's deep suspicions about monopolies and power?  Georgetown assistant professor Glory Liu argues this narrow interpretation is actually a deliberate historical reconstruction. In her book, “Adam Smith's America”, Liu reintroduces the famous philosopher as a theorist of power who worried deeply about organized wealth distorting society. She notes that Smith watched early merchants use their disproportionate resources to capture political influence and actively suppress workers.  Hosts Luigi and Bethany debate whether early merchant wealth accumulation truly mirrors the massive capital concentration seen in today's corporate landscape. They also explore the argument that reintroducing moral foundations to economic theory might provide a better foundation for capitalism itself. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

American Support for Israel: Support for Israel among younger evangelicals has dropped significantly, moving from 75% in 2018 to just 34% in 2021. This shift is attributed to younger generations being less tethered to traditional end-times theology than their predecessors.Evil AI and Virtue Ethics: Researchers found that even small coding errors in AI can lead to "blatantly evil" suggestions. This has sparked a resurgence of interest in classical virtue ethics as a way to prioritize character and the "good life" in both humans and machines.Adam Smith and The Wealth of Nations: Celebrating the 250th anniversary of this 1776 document, the hosts clarify that Smith's idea of "self-interest" was intended to improve the lives of ordinary people, not to encourage greed. They emphasize his belief that a society cannot be happy if the majority of its members are poor and miserable.James Talarico and Christian Nationalism: Following up on a previous discussion, the hosts touch upon Texas Democratic candidate James Talarico's views. They explore a "new style" that he brings to the political discussionListener question: Is trans activism a response to the church? A listener wonders if current trans activism is in some ways a response to the church's heavy-handed approach to trans youth.Listener question: Embryo Adoption Ethics. Scott and Rick answer a question about remaining IVF embryos and adoption. They suggest that handpicking Christian parents or even exploring surrogacy could be considered to maintain parental responsibility.Listener question: Just War Theory Resources: In response to a request for a biblical perspective on warfare, the hosts recommend J. Daryl Charles' Between Pacifism and Jihad as a primary resource, alongside classic works by Augustine and Thomas Aquinas.==========Think Biblically: Conversations on Faith and Culture is a podcast from Talbot School of Theology at Biola University, which offers degrees both online and on campus in Southern California. Find all episodes of Think Biblically at: https://www.biola.edu/think-biblically. To submit comments, ask questions, or make suggestions on issues you'd like us to cover or guests you'd like us to have on the podcast, email us at thinkbiblically@biola.edu.

Expand your knowledge and learn new skills in http://www.newmedia.ufm.edu Organized by: Facultad de Ciencias Económicas https://fce.ufm.edu/ Facebook @FCEUFM Twitter @FCEUFM A production by UFM Studios http://newmedia.ufm.edu Follow us on social media Facebook @ufmvideos Twitter @newmediaufm

Thank you so much for listening to the Bob Harden Show, celebrating almost 15 years broadcasting on the internet. On Thursday's show, we discuss the consequences of the discord in the State legislature this Florida legislative session with the CEO of the Florida Citizens Alliance Keith Flaugh. We visit with Cato Institute Health Policy Studies Director Michael Cannon about the costs of Medicare Advantage programs that are passed on to the less healthy. We visit with CEI Senior Economist Ryan Young about the 250th anniversary of Adam Smith's “Wealth of Nations,” and we discuss economic data and interest rates. We also visit with the former Mayor of Naples Bill Barnett. We have terrific guests scheduled for Friday's show including the Leader of GW's Regulatory Studies Center William Yeatman and author and Professor Andrew Joppa. Access this and past shows at your convenience on my web site, social media platforms or podcast platforms.

Thank you so much for listening to the Bob Harden Show, celebrating almost 15 years broadcasting on the internet. On Thursday's show, we discuss the consequences of the discord in the State legislature this Florida legislative session with the CEO of the Florida Citizens Alliance Keith Flaugh. We visit with Cato Institute Health Policy Studies … The post The 250th Anniversary of Adam Smith’s “The Wealth of Nations” appeared first on Bob Harden Show.

On this episode of Virtual Sentiments, Kristen Collins speaks with Maria Pia Paganelli about Adam Smith's Wealth of Nations on the occasion of its 250th anniversary. Their conversation situates Smith as a sharp moral and political critic of monopoly and empire. Paganelli situates the book in the vibrant world of the Scottish Enlightenment and shows how Smith's central concern was not wealth for its own sake, but the material conditions that make human flourishing possible. Together, Collins and Paganelli explore Smith's views on trade, education, public debt, war, and justice, offering a rich and accessible portrait of The Wealth of Nations as both a foundational work of political economy and a deeply normative indictment of the British commercial system in Smith's time. Dr. Maria Pia Paganelli is a professor of economics at Trinity University in San Antonio where she teaches classes in the principles of economics, the economics of law, Smithian economics, a study abroad course on the history of Iceland, and more. She is the author of The Routledge Guidebook of Smith's Wealth of Nations (Routledge, 2020), and co-edited the books Adam Smith and Rousseau: Ethics, Politics, and Economics (Edinburgh University Press, 2018), and The Oxford Handbook on Adam Smith (Oxford university Press, 2013).Show Notes:Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations (Liberty Fund, 1982), available for free at Liberty Fund's Online Library of Liberty.Maria Pia Paganelli, “The Adam Smith Problem in Reverse: Self-Interest in Adam Smith's Wealth of Nations and Theory of Moral Sentiments”Maria Pia Paganelli, “To Intervene or Not to Intervene: This is Smith's Problem”Maria Pia Paganelli, “Adam Smith the Dissenter”Maria Pia Paganelli, “Adam Smith and the Morality of Political Economy: A Public Choice Reading”Maria Pia Paganelli and Reinhard Schumacher, “Do not take peace for granted: Adam Smith's warning on the relation between commerce and war.”Maria Pia Paganelli and Reinhard Schumacher, “Smith and Hume at War: The Differing Views of Adam Smith and David Hume on Commerce and International Warfare”If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.Follow the Hayek Program on Twitter: @HayekProgramLearn more about Academic & Student ProgramsFollow the Mercatus Center on Twitter: @mercatus

Send a textWe assess Adam Smith's enduring ideas—moral authorization of commerce, division of labor, emergent order—and confront where his optimism breaks: how democratic politics and business fuse to create monopoly privilege. The result is a maintenance‑intensive commercial order that needs competition defended, not assumed.• presumption for markets under secure property, justice, and competition• division of labor as the main engine of productivity and growth• invisible hand reframed as emergent order, not automatic virtue• critique of mercantilism, monopoly privilege, and rent seeking• limited but real state functions: defense, justice, public works, education• motivational symmetry and public choice constraints on government• trade clarity: buy where cheaper, specialize, gains from exchange• competition as a public good that must be defendedHappy 250th birthday, Wealth of NationsIf you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

I år er det 250 år siden Adam Smith publiserte Wealth of Nations, boken som formet moderne økonomisk tenkning. Adam Smith var en moralfilosof med et helhetlig syn på marked, stat og samfunn. I Wealth of Nations la han grunnlaget for forståelsen av markedsøkonomi, arbeidsdeling og forholdet mellom politikk og moral. Disse temaene står fortsatt sentralt i dagens politiske og økonomiske debatt. Hvorfor er rettsstaten avgjørende for markedsøkonomien? Hva mente Smith egentlig med den usynlige hånden? Og hvilken betydning fikk Wealth of Nations i sin samtid? I denne episoden har Mathilde Fasting samlet sentrale perspektiver fra tidligere samtaler i Liberal halvtime for å belyse Adam Smiths tenkning 250 år etter. Episode 668.See omnystudio.com/listener for privacy information.

In The Making of Modern Corporate Finance: A History of the Ideas and How They Help Build the Wealth of Nations (Columbia Business School Publishing, 2025) Donald Chew profiles key figures in the development of modern corporate finance while emphasizing their counterintuitive lessons for shareholders, companies, and countries. He deals with such questions as: Why did the stagflation of the 1970s prove so painful and protracted? What explains the U.S. stock market's forty-year run of 12 percent average annual returns? Why is Japan still mired in a decades-long recession? What accounts for the resilience of U.S. stock markets in the wake of COVID and the Fed's interest rate hikes? Chew argues that answers to these questions lie ideas formulated and tested by finance scholars―notably, an efficient stock market in which prices reflect the long-run values of public companies and a market for corporate control that exerts pressure on management. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

In The Making of Modern Corporate Finance: A History of the Ideas and How They Help Build the Wealth of Nations (Columbia Business School Publishing, 2025) Donald Chew profiles key figures in the development of modern corporate finance while emphasizing their counterintuitive lessons for shareholders, companies, and countries. He deals with such questions as: Why did the stagflation of the 1970s prove so painful and protracted? What explains the U.S. stock market's forty-year run of 12 percent average annual returns? Why is Japan still mired in a decades-long recession? What accounts for the resilience of U.S. stock markets in the wake of COVID and the Fed's interest rate hikes? Chew argues that answers to these questions lie ideas formulated and tested by finance scholars―notably, an efficient stock market in which prices reflect the long-run values of public companies and a market for corporate control that exerts pressure on management. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

In The Making of Modern Corporate Finance: A History of the Ideas and How They Help Build the Wealth of Nations (Columbia Business School Publishing, 2025) Donald Chew profiles key figures in the development of modern corporate finance while emphasizing their counterintuitive lessons for shareholders, companies, and countries. He deals with such questions as: Why did the stagflation of the 1970s prove so painful and protracted? What explains the U.S. stock market's forty-year run of 12 percent average annual returns? Why is Japan still mired in a decades-long recession? What accounts for the resilience of U.S. stock markets in the wake of COVID and the Fed's interest rate hikes? Chew argues that answers to these questions lie ideas formulated and tested by finance scholars―notably, an efficient stock market in which prices reflect the long-run values of public companies and a market for corporate control that exerts pressure on management. Learn more about your ad choices. Visit megaphone.fm/adchoices

In The Making of Modern Corporate Finance: A History of the Ideas and How They Help Build the Wealth of Nations (Columbia Business School Publishing, 2025) Donald Chew profiles key figures in the development of modern corporate finance while emphasizing their counterintuitive lessons for shareholders, companies, and countries. He deals with such questions as: Why did the stagflation of the 1970s prove so painful and protracted? What explains the U.S. stock market's forty-year run of 12 percent average annual returns? Why is Japan still mired in a decades-long recession? What accounts for the resilience of U.S. stock markets in the wake of COVID and the Fed's interest rate hikes? Chew argues that answers to these questions lie ideas formulated and tested by finance scholars―notably, an efficient stock market in which prices reflect the long-run values of public companies and a market for corporate control that exerts pressure on management. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Send us a textWe walk through Book Five of The Wealth of Nations to map a state that defends, adjudicates, and builds wisely, then pays for it without killing growth. From militias to standing armies, fee-based courts to salaried judges, turnpikes to basic schooling, and taxes to debt, we test what holds up now.• defense as a professional, civilian-controlled standing army• justice as predictable law and salaried judges• public works funded by user fees where feasible• education to offset division of labor's civic costs• incentives in universities and churches• four tax maxims and ability to pay• why land taxes beat mobile capital taxes• state property and monopolies as bad revenue• debt, consols, and fiscal illusion• Smith with Hume and public choice echoesWe do have one more episode, which is a summing up and taking stock of why the Wealth of Nations still matters today. It will post Tuesday, February 24th, 2026.If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Discover the foundational principles of modern economics in this episode covering Adam Smith's groundbreaking 'The Wealth of Nations' (1776). Learn about: • The invisible hand and how self-interest drives economic growth • The division of labor and its impact on productivity • Free trade and the dangers of protectionism • The nature of money and capital accumulation • How competitive markets regulate prices and create efficiency This classic work revolutionized economic thought and remains essential reading for entrepreneurs, investors, and anyone interested in understanding how economies function. Smith's insights on specialization and market forces continue to shape business and policy decisions today. Perfect for: Business leaders, economists, entrepreneurs, history enthusiasts, and anyone seeking to understand the foundations of capitalism. Key quote: 'It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.' Learn more about your ad choices. Visit megaphone.fm/adchoices

Is the growth of sovereign wealth funds, especially in the Middle East, transforming geopolitics? Jared Cohen, co-head of the Goldman Sachs Global Institute, sat down with FP's Ravi Agrawal to discuss why sovereign funds are so pivotal today.  Note: This discussion is part of a series of episodes brought to you by the Goldman Sachs Global Institute.  Jared Cohen and George Lee: The New Wealth of Nations Learn more about your ad choices. Visit megaphone.fm/adchoices

Send us a textWe trace how Adam Smith solves a historical puzzle: why Europe's path to prosperity inverted the “natural order,” and how commerce quietly dissolved feudal power to make room for liberty. The story follows incentives, from primogeniture and entail to charters, free towns, and the market's “silent and insensible” revolution.• institutions as congealed preferences and elite incentives• why Smith's natural order inverts in Europe• the physiocrats' growth model and Smith's critique• Solow's technology vs North's institutions vs McCloskey's ideas• feudal constraints primogeniture and entail suppressing agriculture• towns as islands of order through charters and fixed rents• the king–burgher alliance against barons• merchants as improvers of land and capital risk-takers• commerce introducing liberty and good government• Smith's “most important” passage and its modern relevanceIf you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Send us a textThis episode explores Book 2 of Adam Smith's Wealth of Nations, focusing on his revolutionary concept of the "division of stock" and how capital accumulation drives economic growth.• Smith distinguishes between fixed capital (machines, buildings, land improvements) and circulating capital (money, goods in transit)• Money is described as "the great wheel of circulation" – necessary but not productive in itself• Banking allows society to economize on expensive metallic currency by substituting paper money• Smith's concept of productive versus unproductive labor helps explain which activities increase national wealth• The acquisition of skills represents "human capital" – a concept Smith pioneered centuries before Gary Becker• Interest on loans is justified as compensation for the productive use of capital, though Smith supports moderate usury laws• Smith identifies four employments of capital: agriculture (most beneficial), manufacturing, wholesale trade, and retail• Smith criticizes mercantilism for privileging foreign trade over domestic production• Division of stock and modern financial markets solve the "time travel problem" by allowing entrepreneurs to access capital without primitive accumulationIf you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

The Wealth of Nations Redeemed; Isaiah 23; Bennie Tomberlin. Scripture read by Richard Scarbrough

Send us a textBook Two of Adam Smith's "The Wealth of Nations" provides the conceptual foundation for understanding how commercial society sustains growth through capital accumulation and the employment of stock. Smith challenges common misconceptions about wealth creation and offers profound insights on the role of capital in economic development.• Capital is not capitalism – Smith wrote before "capitalism" was invented, using the term "stock" to describe accumulated resources• Division of stock works alongside division of labor – capital must be accumulated before it can be employed productively• Justice (protection of person, property, and promise) is prerequisite for investment – without security, people hide rather than invest their stock• Fixed capital (tools, buildings, skills) versus circulating capital (money, wages, materials) form different branches of stock• Money serves as "the great wheel of circulation" – facilitating exchange but not itself productive• Banking allows society to operate with less precious metal – freeing resources for productive investment• Productive labor creates vendible commodities while unproductive labor (government, services) perishes in performance• Parsimony (saving) drives growth while prodigality reduces funds available for productive employment• Interest is legitimate compensation for foregone use of capital – similar to rent on land• Agriculture, manufacturing, wholesale trade, and retail are the four main employments of capital• Modern financial markets solve Marx's "primitive accumulation" problem – entrepreneurs can sell shares of future profitsLet me know your thoughts on these ideas from Adam Smith in the comments below. If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Send us a textAdam Smith's "The Wealth of Nations" developed from decades of lectures on jurisprudence, examining how market exchange creates prosperity through division of labor and specialized skills.• Two core observations drive Smith's thinking: humans seek approval from others and have a propensity to "truck, barter and exchange"• Exchange is Smith's key concept—not just for goods but for ideas, sentiments and social coordination• Division of labor dramatically increases productivity through specialization, increased dexterity, and tool development• Smith's famous pin factory example shows how 18 specialized workers produce thousands of times more than individuals working separately• The extent of the market limits division of labor—larger markets allow greater specialization• Smith argues that differences between philosophers and street porters arise from "habit, custom, and education" not innate capacity• While profit is legitimate, Smith criticizes how powerful interests manipulate government to restrict competition• Justice (respecting person, property, and promises) forms the essential foundation for any functioning commercial society• Smith's work intended as a handbook for lawmakers, not ideological advocacy• The Wealth of Nations represents applied moral philosophy addressing how societies become prosperousJoin us next time when we'll examine Book Two of Smith's masterpiece.If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Send us a textTransaction costs provide the key to understanding Adam Smith's complete philosophical system and how his two great works form an integrated whole. • Smith's two essential claims: humans desire to learn proper behavior and have an innate propensity to truck, barter, and exchange• Sympathy in Smith's view means synchronizing feelings with others—not perfect emotional matching but sufficient "concords" for social harmony• Three core principles guide proper behavior: justice (respecting others' person, property, and promises), beneficence (proper use of what's ours), and prudence (sacrificing present comfort for future well-being)• Self-command turns virtuous intentions into actual proper behavior• Four sources of moral judgment: motive, reaction, convention, and consequence• As societies scale up, we move from moral community (acting from love) to moral order (following rules from their utility)• Smith's "Chinese earthquake" example anticipates the modern trolley problem by revealing how moral agency affects our decisions• The "man of system" tries to impose ideal plans without regard for human nature or gradual change• Smith's egalitarian views positioned economics against slavery and hierarchical social structuresAlso posted, with resources for teaching and learning, at Adam Smith Works, thanks to Amy Willis. If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Send us a text(N.B.:  This episode is cross-posted at our partner site, Adam Smith Works. There are lots of resources and background material there, if you want to delve deeper)The Scottish Enlightenment emerged as a remarkable intellectual movement that shaped modern economics, philosophy, and social science, with Adam Smith at its center developing a dual theory of human nature through his two masterworks.• Scottish Presbyterian education fostered literacy and critical inquiry despite doctrinal rigidity• The 1707 Act of Union created unique conditions where Scots pursued intellectual achievement rather than political power• Scottish universities thrived through student-funded education while Oxford professors "gave up even the pretense of teaching"• Thinkers like David Hume, Francis Hutchison, and Thomas Reid established key intellectual foundations• Smith's concept of sympathy involves synchronizing sentiments with others, not just feeling pity• Justice protects "person, property and promise" as the foundation of social order• Beneficence is "the ornament" of society while justice is essential to its existence• Smith was strongly anti-slavery, describing enslaved Africans as "nations of heroes" superior to their captors• The Theory of Moral Sentiments and Wealth of Nations form a unified system, not contradictory works• Commercial society requires both moral foundations and economic understanding to function properlyFor the complete series on Adam Smith's Wealth of Nations and additional resources, you can also visit Liberty Fund's Adam Smith Works website.If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Jane Dutton speaks to Bronwyn Williams, Trend Translator and Future Finance Specialist at Flux, about Riane Eisler's book "The Real Wealth of Nations: Creating A Caring Economics", which explores her vision for an economy that prioritizes human well-being and social equity. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.Thank you for listening to The Money Show podcast.Listen live - The Money Show with Stephen Grootes is broadcast weekdays between 18:00 and 20:00 (SA Time) on 702 and CapeTalk.There’s more from the show at www.themoneyshow.co.zaSubscribe to the Money Show daily and weekly newslettersThe Money Show is brought to you by Absa.Follow us on:702 on Facebook: www.facebook.com/TalkRadio702702 on TikTok: www.tiktok.com/@talkradio702702 on Instagram: www.instagram.com/talkradio702702 on X: www.x.com/Radio702702 on YouTube: www.youtube.com/@radio702CapeTalk on Facebook: www.facebook.com/CapeTalkCapeTalk on TikTok: www.tiktok.com/@capetalkCapeTalk on Instagram: www.instagram.com/capetalkzaCapeTalk on YouTube: www.youtube.com/@CapeTalk567CapeTalk on X: www.x.com/CapeTalk See omnystudio.com/listener for privacy information.

Let's purchase some peace with more from this foundational work of economics. This time, the fundamentals of supply and demand, the function of profit, and why monopolies are a pretty terrible idea unless you want to pay more for less.   Help us stay ad-free and 100% listener supported! Patreon: https://www.patreon.com/boringbookspod Buy Me a Coffee: https://www.buymeacoffee.com/d5kcMsW   Read “The Wealth of Nations” at Project Gutenberg: https://www.gutenberg.org/ebooks/3300   Music: "earth 2 earth,” by PC III, licensed under CC BY   If you'd like to suggest a copyright-free reading for soft-spoken relaxation to help you overcome insomnia, anxiety and other sleep issues, connect on our website, http://www.boringbookspod.com.

Tonight's reading comes from An Inquiry into the Nature and Causes of the Wealth of Nations. Written by Adam Smith, this is a classical book about economics and was published all the way back in 1776. My name is Teddy and I aim to help people everywhere get a good night's rest. Sleep is so important and my mission is to help you get the rest you need. The podcast is designed to play in the background while you slowly fall asleep.For those new to the podcast, it started from my own struggles with sleep. I wanted to create a resource for others facing similar challenges, and I'm so grateful for the amazing community we've built together.

hom Hartmann is an American radio personality, author, former psychotherapist, businessman, and progressive political commentator, whose talk show has been rated in the top 10 shows for over a decade by Talkers Magazine. His most recent book is “The Hidden History of the American Dream?” America, primarily thanks to FDR and unionization, was a catapult for the middle class until the early 1980s. The Reagan influence of Neoliberal economics contributed to the decentralization of regulations, race to the bottom, union busting and globalization for cheaper wages. The National Relations Labor Act legalizing unions was some of the most substantive legislation supported by FDR.  Five suggestions to reactivate the American Dream: 1) encourage unionization and National Labor Relations Act; 2: raise top income bracket for the rich; 3) raise top corporate income tax to reduce bogus tax deductions; 4) reestablish inheritance tax; and,  5) guarantee social safety movement with health insurance.

I caught up with author Bruce Francis Schaafsma who has just published a thought provoking book which questions some fundamental assumptions about economics, with profound and far-reaching consequences. While we see the rich getting richer whilst others struggle, what if there are enough resources in the world, and the real issue we face is a … Continue reading "The Real Truth About The Wealth Of Nations: With Bruce Francis Schaafsma"

Read on your terms. Start a free trial of StoryShots here: https://www.getstoryshots.com to get access to the key takeaways of The Wealth of Nations by Adam Smith and 300,000 more bestselling books in text, audio, video and infographic formats. COPYRIGHT NOTICE: This book is in the public domain. Comment on Spotify or Apple Podcasts and let us know how you liked this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode explores the impact and lasting influence of Adam Smith's 1776 work, "The Wealth of Nations," on economic thought and policies. Smith's ideas on division of labor, self-interest in markets, and limited governmental intervention continue to shape discussions on free markets and economic principles worldwide, making his work a foundational reference in economics and beyond.

Let's spend our way to sleep as we learn more about the concept of value, why pounds are silver instead of gold, and how rent should be charged in corn rather than coin. Truly priceless boredom!   Help us stay ad-free and 100% listener-supported! Patreon: https://www.patreon.com/boringbookspod Buy Me a Coffee: https://www.buymeacoffee.com/d5kcMsW   Read “The Wealth of Nations” at Project Gutenberg: https://www.gutenberg.org/ebooks/3300   Music: "earth 2 earth,” by PC III, licensed under CC BY   If you'd like to suggest a copyright-free reading for soft-spoken relaxation to help you overcome insomnia, anxiety and other sleep issues, connect on our website, http://www.boringbookspod.com.

The publication of "The Wealth of Nations" had a profound impact on economic thought and policy, laying the foundation for classical economics and providing justification for the rise of free-market ...

Professor Raushan Gross, who teaches Business Management And Leadership at Pfeiffer University, has focused his most recent research on the impact and influence of A.I. on entrepreneurship. He published some of this research in a series of articles at mises.org. One of them links A.I. to The Wealth Of Nations, and, of course, the wealth of nations is driven by entrepreneurship. From this vantage point, Professor Gross identifies the multifaceted impact of AI on society, economics, and business strategies, advocating for a paradigm shift in management thinking to adapt to technological advancements.Show Notes:0:00 | Intro2:27 | Exploring AI's Impact on Entrepreneurship7:18 | Can AI Surpass Human Entrepreneurship?8:48 | Exploring AI as a Service and AI Stacking12:08 | AI as a Team Member in Entrepreneurship15:10 | Small and Medium Businesses Can Embrace AI for Strategic Advantage17:13 | Transition to Autonomous Decision-Making with AI21:13 | Concerns on AI Centralization and Oligopoly25:15 | Adam Smith: Global Scale AI is the Wealth of Nations26:40 | Elon Musk on Value Creation: the Value Meter29:14 | Does AI Redefine Management by Value Metrics?32:14 | Wrap-Up: Rethinking Management in the Digital Age

In this episode, Dr. Yuval Levin offers a spirited defense of capitalism on moral grounds, recognizing that the most serious criticisms against capitalism aren't necessarily about prosperity and wealth, but about the perceived moral failings of the economic system.This approach is actually consistent with the original case for capitalism, articulated by Adam Smith himself, who was first and foremost a moral philosopher.Along the way, we talk about the essential virtues within Smith's philosophy; who coined the term “capitalism”; the need for social institutions like families and churches to temper economic appetites; the breadth of common ground between Adam Smith and Catholic social teaching; buying and selling as moral actions; and the enduring truth that man does not live by bread alone.Dr. Levin is the Director of Social, Cultural, and Constitutional Studies at the American Enterprise Institute - one of the leading conservative think tanks in Washington, DC.He is also the founder and editor of National Affairs, senior editor at The New Atlantis, a contributing editor at National Review, and an opinion writer at The New York Times.In addition, he served as a member of the White House domestic policy staff under President George W. Bush, and as the executive director of the President's Council on Bioethics.ResourcesYuval Levin (official AEI biography)American Enterprise Institute, The Morality of MarketsAdam Smith, The Wealth of Nations (Britannica.com summary)Pope John Paul II, Centesimus Annus (1991)podcast@crownandcrozier.comwww.crownandcrozier.comtwitter.com/crownandcrozierPlease note that this podcast has been edited for length and clarity.

The AI and robotics revolution continues. As entrepreneurs find new ways to use these things profitably, the overall wealth of nations increases. Original Article: The Fate or Wealth of Nations: AI, Robotics and Automation

The AI and robotics revolution continues. As entrepreneurs find new ways to use these things profitably, the overall wealth of nations increases. Narrated by Millian Quinteros.

The AI and robotics revolution continues. As entrepreneurs find new ways to use these things profitably, the overall wealth of nations increases. Original Article: The Fate or Wealth of Nations: AI, Robotics and Automation

The AI and robotics revolution continues. As entrepreneurs find new ways to use these things profitably, the overall wealth of nations increases. Original Article: The Fate or Wealth of Nations: AI, Robotics and Automation

John J. Miller is joined by Donald J. Boudreaux of George Mason University to discuss Adam Smith's book, 'The Wealth of Nations.'

Adam Smith, born in 1723 and the father of modern economic theory, remains one of the most influential writers on markets development and state formation.  He is also the author of Theory of Moral Sentiments, an examination of how people relate to one another.  Peter S. Onuf, the Thomas Jefferson Memorial Foundation Professor emeritus at the University of Virginia, prolific scholar of the life and thought of Thomas Jefferson, joins us to talk about Adam Smith, the Scottish enlightenment, and Revolutionary America. 

[This is one of the finalists in the 2023 book review contest, written by an ACX reader who will remain anonymous until after voting is done. I'll be posting about one of these a week for several months. When you've read them all, I'll ask you to vote for a favorite, so remember which ones you liked] If you know Jane Jacobs at all, you know her for her work on cities. Her most famous book, published in 1961, is called The Death and Life of Great American Cities. It criticizes large-scale, top-down “urban renewal” policies, which destroy organic communities. Today almost everyone agrees with her on that, and she is considered one of the most influential thinkers on urban theory. This is not a review of The Death and Life of Great American Cities. Perhaps it would be, if I had become interested in Jane Jacobs's ideas on cities like a normal person. But I didn't: I started with two books that came to me by random chance, or fate, if you want to call it that. https://astralcodexten.substack.com/p/your-book-review-cities-and-the-wealth

Let's sleep through the stress of Tax Day with more from this capital classic, learn the history of money, how diamonds are dumb, and why a cow's worth of salt is…really too much salt.   Want to support our equipment fundraiser? Here's the link! https://www.buymeacoffee.com/d5kcMsW/wishlist Patreon: https://www.patreon.com/boringbookspod Buy Me a Coffee: https://www.buymeacoffee.com/d5kcMsW   Read "The Wealth of Nations" at Project Gutenberg: https://www.gutenberg.org/ebooks/3300   Music: "earth 2 earth,” by PC III, licensed under CC BY   If you'd like to suggest a copyright-free reading for soft-spoken relaxation to help you overcome insomnia, anxiety and other sleep issues, connect on our website, http://www.boringbookspod.com.