Economic Philosophy

For starters, we know it’s not astrophysics…

Adam Smith is, without doubt, the most famous member of that group of Scottish Moral Philosophers who contributed to the development of social and economic understanding of the market economy and how economic liberty makes human prosperity possible.

This year, when we sit around our dining table with our family and friends, let us also remember that what we are really celebrating is the birth of free men and free enterprise in that New World of America.

In the middle decades of the eighteenth century two schools of thought emerged, one in France and the other in Great Britain that were critical of Mercantilism, the government system of economic planning and regulation in the 1700s.