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Today’s Relevance of Adam Smith’s Wealth of Nations

Summary:
The Scottish economist and moral philosopher’s landmark treatise, The Wealth of Nations (1776), is relevant today not only because it makes a still pertinent and compelling case for free trade, low taxes, and the “invisible hand” of the marketplace. It also resonates by calling out, with acumen and eloquence, the “folly and presumption” of any persons or group who believes themselves fit to direct the affairs of other people.

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The Scottish economist and moral philosopher’s landmark treatise, The Wealth of Nations (1776), is relevant today not only because it makes a still pertinent and compelling case for free trade, low taxes, and the “invisible hand” of the marketplace. It also resonates by calling out, with acumen and eloquence, the “folly and presumption” of any persons or group who believes themselves fit to direct the affairs of other people.

Donald J. Boudreaux
Donald Joseph Boudreaux (born 1958) is an American economist, author and professor. He is publicly known as a libertarian. Boudreaux was an Assistant Professor of Economics at George Mason University from 1985 to 1989. He was an Associate Professor of Legal Studies and Economics at Clemson University from 1992 to 1997, and President of the Foundation for Economic Education from 1997 to 2001. He is now Professor of Economics at George Mason University, where he served as chairman of the Economics Department from 2001 to 2009. During the Spring 1996 semester he was an Olin Visiting Fellow in Law and Economics at the Cornell Law School. Boudreaux is now an adjunct scholar at the Cato Institute, a Washington think tank.

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