One of the most accusatory and negative words currently in use in various politically “progressive” circles is that of “Neo-Liberalism.”
Adam Smith’s central contribution to economic understanding was surely his demonstration that under an institutional arrangement of individual liberty, property rights, and voluntary exchange the self-interested conduct of market participants could be shown to be consistent with a general betterment of the human condition.
Almost all Americans seem to acknowledge the failures of the government school system; today’s disagreements and debates are confined only to causes and proposed solutions.
Scotland would seem a strange place for the emergence of center of intellectual development that would influence the stream of ideas throughout the world. Scotland had been unified with England near the beginning of the eighteenth century. It was considered a “backwater” of European civilization.