We are thrilled to collaborate with our colleagues at Liberty Matters in commemorating the 250th anniversary of the landmark publication An Inquiry into the Nature and Causes of the Wealth of Nations. This celebration will unfold through a series of six insightful essays.
In the fourth essay, Brianne Wolf delves into Book IV of Wealth of Nations, where Adam Smith launches a vigorous critique of the mercantile system, positioning his work as a “very violent attack” against it. A key excerpt from her analysis reads:
While Adam Smith is frequently hailed as the progenitor of modern economics, contemporary scholars increasingly recognize that the two principal works published during his lifetime—Theory of Moral Sentiments and Wealth of Nations—should not be viewed as isolated pursuits in moral philosophy and political economy, respectively. Rather, they represent two facets of a singular mission aimed at fostering human flourishing. It is well acknowledged that Smith’s moral philosophy enriches and underpins his economic theories; however, less attention has been given to the moral ramifications embedded within his political economy.
