Most people associate Adam Smith with free markets and “the invisible hand”. But does this conventional narrative purposefully ignore Smith’s deep suspicions about monopolies and power? 

Georgetown assistant professor Glory Liu argues this narrow interpretation is actually a deliberate historical reconstruction. In her book, “Adam Smith’s America”, Liu reintroduces the famous philosopher as a theorist of power who worried deeply about organized wealth distorting society. She notes that Smith watched early merchants use their disproportionate resources to capture political influence and actively suppress workers. 

Hosts Luigi and Bethany debate whether early merchant wealth accumulation truly mirrors the massive capital concentration seen in today's corporate landscape. They also explore the argument that reintroducing moral foundations to economic theory might provide a better foundation for capitalism itself.

Subscribe to our Youtube Channel

Follow Capitalisn’t on Instagram & TikTok

Send us your questions or comments by emailing [email protected] 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.