Why Adam Smith Still Matters, And What We Have Not Understood

We are ten years out from the collapse of Lehman Brothers and the beginning of the worst financial meltdown since the Great Depression. The shock waves of those events are still with us today and they take many forms

Not the least of which has been the loss of faith in the efficiency of markets, the underlying ideas of modern economics, the role of the state in intervening in those markets, and the moral and political consequences of capitalism itself.

However, any conversation about these ideas does not begin with the crisis ten years ago, but probably should begin with enlightenment thinkers and with Adam Smith. Considered by many to be the father of modern economics.

Jesse Norman, a highly regarded Member of British Parliament, takes a deep dive into Smith in his new book Adam Smith: Father of Economics.

My conversation with The Honorable Jesse Norman: