Episode · Freakonomics Radio · 2026-05-06
Books mentioned on Was Adam Smith Really a Right-Winger? (Update)
Economists and politicians have turned him into a mascot for free-market ideology. Some on the left say the right has badly misread him.
Books mentioned, in the order they came up
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The Theory of Moral Sentiments
The Theory of Moral Sentiments is an 18th-century work by Adam Smith that investigates the foundations of human morality, sympathy, and social interaction.
Recommended“When I read Adam Smith's book The Theory of Moral Sentiments, I realized that you know, there's a lot of other things that push and pull people. Now, come on. Didn't you know that before? Of course I did. But reading Smith forced me to think of it”
Where to get it
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The Wealth of Nations
The Wealth of Nations by Adam Smith is a foundational 1776 text in economics that investigates the nature and causes of national prosperity through division of labor, free markets, and supply systems.
Discussed“He says the pursuit of wealth, here's the person who wrote The Wealth of Nations. He says the pursuit of wealth is a fool's game.”
Where to get it
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Adam Smith’s America
Adam Smith’s America by Glory M.
Discussed“And in her new book Adam Smith's America, the political scientist Glory Liu argues that it was that University of Chicago economics department, especially Friedman and Stigler, who sort of cherry-picked Smith's writing and turned him into a patron saint of free market capitalism”
Where to get it
Other mentions in this episode (12) — ad reads, self-promotion and passing references, never counted
Passing The Wealth of Nations
“If you've been keeping up with your Freakonomics Radio feed, you've already heard an episode we made about a new oratorio by David Lang called Wealth of Nations, which was inspired by the book Wealth of Nations by Adam Smith.”
Passing The Theory of Moral Sentiments
“Smith had never been accused of being a fast writer, and it turned out to be 17 years between the publication of The Theory of Moral Sentiments and the release of his second and final book, The Wealth of Nations.”
Passing The Wealth of Nations
“Smith had never been accused of being a fast writer, and it turned out to be 17 years between the publication of The Theory of Moral Sentiments and the release of his second and final book, The Wealth of Nations.”
Passing Adam Smith’s America
“Gloria Liu is the author of a book called Adam Smith's America, how a Scottish philosopher became an icon of American capitalism.”
Passing The Wealth of Nations
“Glory Liu writes in her book that Alexander Hamilton actually cribbed bits of Adam Smith in his own report on national banks.”
Passing Adam Smith’s America
“In book, Glory Liu says it mostly came from the University of Chicago. That's accurate according to my view of things.”
Passing The Wealth of Nations
“It has been said that Thatcher carried in her handbag a copy of The Wealth of Nations. One of the great debates of our time is about how much of your money should be spent by the state and how much you should keep to spend on your family.”
Passing The Theory of Moral Sentiments
“If you do read Adam Smith, and you read both his books, The Theory of Moral Sentiments and The Wealth of Nations, you might conclude there is not one Adam Smith, but two Adam Smiths.”
Passing The Wealth of Nations
“If you do read Adam Smith, and you read both his books, The Theory of Moral Sentiments and The Wealth of Nations, you might conclude there is not one Adam Smith, but two Adam Smiths.”
Passing The Theory of Moral Sentiments
“As Dennis Rasmussen just explained, it is not so hard to reconcile The Wealth of Nations Adam Smith and The Theory of Moral Sentiments Adam Smith.”
Passing The Wealth of Nations
“As Dennis Rasmussen just explained, it is not so hard to reconcile The Wealth of Nations Adam Smith and The Theory of Moral Sentiments Adam Smith.”
Own book How Adam Smith can change your life
“I am president of Shalem College in Jerusalem, Israel. I am the host of EconTalk, the podcast, and author of How Adam Smith Can Change Your Life, An Unexpected Guide to Human Nature and Happiness.”