Was Adam Smith Really a Right-Winger? (Update)

May 6, 2026 · 1h 8m

About this episode

Economists and politicians have turned him into a mascot for free-market ideology. Some on the left say the right has badly misread him. In this updated replay of a 2022 episode, we hold a very Smithy tug of war. <ul> <li>SOURCES: <ul> <li><a href="https://www.libertarianism.org/people/eamonn-butler" rel="noopener noreferrer">Eamonn Butler</a>, co-founder and director of the Adam Smith Institute.</li> <li><a href="https://www.gloryliu.com/about" rel="noopener noreferrer">Glory Liu</a>, a political scientist and Adam Smith scholar at Georgetown University.</li> <li><a href="https://marianamazzucato.com/" rel="noopener noreferrer">Mariana Mazzucato</a>, professor in the economics of innovation and public value at University College London.</li> <li><a href="https://www.maxwell.syr.edu/directory/dennis-c-rasmussen" rel="noopener noreferrer">Dennis Rasmussen</a>, a professor of political science at Syracuse University.</li> <li><a href="https://russroberts.info/" rel="noopener noreferrer">Russ Roberts</a>, president of Shalem College in in Jerusalem; host of the EconTalk podcast; and author.</li> <li><a href="https://www.gla.ac.uk/schools/socialpolitical/staff/craigsmith/" rel="noopener noreferrer">Craig Smith</a>, Adam Smith Senior Lecturer in the Scottish Enlightenment at the University of Glasgow.</li> </ul></li> </ul> <ul> <li>RESOURCES: <ul> <li><a href="https://amzn.to/3P70VwN" rel="noopener noreferrer">Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism</a>, by Gloria Liu (2022).</li> <li>"<a href="https://www.panmurehouse.org/perspectives/articles/henry-and-adam-a-deep-and-special-friendship/" rel="noopener noreferrer">Henry and Adam: A Deep and Special Friendship</a>," by Benny Higgins (Adam Smith Panmure House Perspective, 2020).</li> <li>"<a href="https://www.economist.com/books-and-arts/2018/07/26/rescuing-adam-smith-from-myth-and-misrepresentation" rel="noopener noreferrer">Rescuing Adam Smith From Myth and Misrepresentation</a>," (The Economist, 2018).</li> <li><a href="https://amzn.to/3uzB5Is" rel="noopener noreferrer">The Infidel and the Professor: David Hume, Adam Smith, and the Friendship That Shaped Modern Thought</a>, by Dennis C. Rasmussen (2017).</li> <li><a href="https://amzn.to/3hd66i3" rel="noopener noreferrer">How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness</a>, by Russ Roberts (2014).</li> <li>"<a href="https://hbr.org/1992/01/british-privatization-taking-capitalism-to-the-people" rel="noopener noreferrer">British Privatization — Taking Capitalism to the People</a>," by John Moore (Harvard Business Review, 1992).</li> <li><a href="https://amzn.to/3Y31wUh" rel="noopener noreferrer">Free to Choose: A Personal Statement</a>, by Milton Friedman and Rose Friedman (1990).</li> <li><a href="https://amzn.to/3HjlAf3" rel="noopener noreferrer">The Essential Adam Smith</a>, edited by Robert L. Heilbroner (1986).</li> <li><a href="https://www.libertyfund.org/books/an-inquiry-into-the-nature-and-causes-of-the-wealth-of-nations-set/" rel="noopener noreferrer">An Inquiry into the Nature and Causes of the Wealth of Nations</a>, by Adam Smith (1776).</li> <li><a href="https://amzn.to/3VYSzcJ" rel="noopener noreferrer">The Theory of Moral Sentiments</a>, by Adam Smith (1759).</li> </ul></li> </ul> <ul> <li>EXTRAS: <ul> <li>"<a href="https://freakonomics.com/podcast-tag/in-search-of-the-real-adam-smith/" rel="noopener noreferrer">In Search of the Real Adam Smith</a>," series by Freakonomics Radio (2022).</li> </ul></li> </ul> Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.