Our American Republic – Ep. 39: Adam Smith

Our American Republic – Ep. 39: Adam Smith

- in Features


“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from regard to their own interest.” – Adam Smith, The Wealth of Nations, Book I, Ch. II

On this episode of Our American Republic, we are going to look at the philosophical contributions of Adam Smith. When we talk about liberty, it is important to understand how our economic system plays into our ability to exercise our individual property rights. In the United States, we use the term “Capitalism” to describe this system, but as of late, terminology has become a bit more confusing. So, lets step back and look at the man who contributed much to the discussion on free-market economics and figure out: Who exactly was Adam Smith? And, what did he say about economics?

Sources: (Annotations visible on desktops with Adobe Flash)

1 – Adam Smith, https://en.wikipedia.org/wiki/Adam_Smith

2 – John Locke, https://youtu.be/UDCfzXB76h0

3 – The Wealth of Nations, http://www.econlib.org/library/Smith/smWN.html

4 – Mercantilism, https://en.wikipedia.org/wiki/Mercantilism

5 – John Locke, http://www.history.com/topics/john-locke

6 – Adam Smith, http://www.econlib.org/library/Enc/bios/Smith.html

7 – Classical Liberalism, https://en.wikipedia.org/wiki/Classical_liberalism

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