Why Adam Smith Still Matters: 250 Years of The Wealth of Nations

Published in the same pivotal year as the Declaration of Independence, An Inquiry into the Nature and Causes of the Wealth of Nations provided the intellectual scaffolding for the American experiment in ordered liberty. Two and a half centuries later, Smith’s insights into the "invisible hand" remain central to understanding the vital relationship between free markets, institutional design, and the conditions necessary for human flourishing.

This webinar will delve into the profound influence of Smith’s economic and moral philosophy on American thought, tracing a line from the Founding era to the complex policy debates of the modern day. Our panel will move beyond the common caricatures of Smithian economics to explore the deeper ethical dimensions of his work, specifically how he balanced the pursuit of self-interest with the necessity of justice and social cooperation. By examining the structural requirements for a prosperous society, the discussion will highlight how Smith’s theories continue to inform the American constitutional tradition and its commitment to individual agency.

As the United States approaches its 250th anniversary, there is no better time to revisit the thinkers who defined our trajectory. This program offers a unique opportunity to engage with thoughtful perspectives on how Smith’s vision of a "system of natural liberty" remains a relevant and necessary guide for navigating the economic and legal challenges of the 21st century. Whether you are a scholar of history, a legal practitioner, or an interested citizen, this discussion will provide a rigorous look at the foundational principles that continue to shape our national character.

Featuring:

• Prof. Robin Paul Malloy, E.I. White Chair and Distinguished Professor of Law, Syracuse University and Distinguished Visiting Professor, University of Palermo
• Dr. Maria Pia Paganelli, Professor of Economics, Trinity University
• Dr. Vernon L. Smith, Professor Emeritus, George Mason University
• Moderator: Dean Reuter, Executive Vice President, The Federalist Society

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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.