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the most important books written in history, the Wealth of Nations (1776)—has been listed as a potential site to investigate on the basis that Smith allegedly accepted slavery as “inevitable.” There is so much wrong with this claim about the father of modern economics that it is difficult to know where to start. Perhaps the best place to begin is with the fact that Adam Smith despised slavery. In his Theory of Moral Sentiments (1759), Smith described slave-traders as “the refuse of the jails of Europe… who possess the virtues neither of the countries which they come from, nor of t...

The result is Value(s): Building a Better World for All – a call to restore morality to markets. In keeping with a glittering career that has seen the Northwest Territories-born economist work in investment banking with Goldman Sachs; government with Canada’s department of finance, and, central banking as governor of the banks of Canada and England, there are no half measures. The 600-page tome is as dense as a quarried stone block, offering the reader the history of nearly everything, from the Magna Carta to the Medicis lending to the Vatican. Value(s) is voluminous but it leaves the ...

THE BIG READ: Final resting place of 'father of capitalism' Adam Smith has resurrected Scottish slavery debate PREMIUM THE BIG READ: Final resting place of 'father of capitalism' Adam Smith has resurrected Scottish slavery debate He is the most famous economist who ever lived, so the inclusion of Smith’s gravesite on an Edinburgh Slavery and Colonialism Legacy Review Group list has not gone down well with historians such as Sir Tom Devine It doesn’t look controversial at first. But look a little bit closer. In places, the words are hard to read – they’re a bit faded after a couple o...

7 Mar 2021 The grave of Scottish Enlightenment philosopher Adam Smith has become the latest target of a Black Lives Matter-inspired review of sites supposedly linked to “slavery and colonialism” by Edinburgh Council. Adam Smith, known as the “father of capitalism” for his seminal works on economic theory, including The Wealth of Nations, has drawn the ire of the Scottish capital’s local government, a coalition between the left-wing Labour Party and the left-separatist Scottish National Party (SNP). In the wake of Black Lives Matter protests spreading to the United Kingdom after the...

Political paternalists presume to know better than each one of us how we should live our lives, and want to use the power of government to impose their visions on the rest of us Political paternalism – the belief that those in government possess more knowledge, wisdom, and ability to plan, guide, and direct various aspects of people’s lives better than those people themselves – comes in many forms. The American “progressive” movement is euphoric with being, once again, close to power with the new Biden Administration in the hope of intensifying and extending their version of politic...