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Adam Smith’s Warning About Wealth, Fame, and Status (with Ross Levine)

Adam Smith’s Warning About Wealth, Fame, and Status (with Ross Levine)

0:37 Intro. [Recording date: March 10, 2026.] Russ Roberts: Today is March 10th, 2026, and my guest is economist Ross Levine, the Booth Derbas Family, Edward Lazear Senior Fellow at the Hoover Institution, and co-director of Hoover’s Financial Regulation Working Group. Prior to joining Hoover, he was a faculty member at the University of California […]

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Oczywiście nadal czytamy Wealth of Nations w Econlib

Oczywiście nadal czytamy Wealth of Nations w Econlib

Dziś wspólnie z przyjaciółmi z Liberty Matters obchodzimy 250. rocznicę publikacji Badanie natury i przyczyn bogactwa narodów poprzez serię sześciu cotygodniowych esejów. W ostatnim eseju Craig Smith pyta o Bogactwo Narodów dziedzictwo i to, co możemy dziś wynieść z 250-letniej książki. Z artykułu: Trocznica wydania Bogactwo Narodów daje nam powód, aby zatrzymać się i zastanowić, […]

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Why Adam Smith Embraced Commercial Society: The Wealth of Nations, Book 3

Why Adam Smith Embraced Commercial Society: The Wealth of Nations, Book 3

“Much of Book 3 is dedicated to a historical account of how and why the feudal order that prevailed throughout Europe for many centuries eventually gave way to a liberal, commercial order—that is, how a world dominated by hierarchy, dependence, and intrastate conflict was superseded by one in which the rule of law reigned and […]

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Wealth of Nations, Book 2: Prudence, Competition, and Party Walls

Wealth of Nations, Book 2: Prudence, Competition, and Party Walls

The lesson is thus clear: Welcome multiple banks of issue and make sure there is always full convertibility, and bankers will be prudent and the economy will be stable and prosperous. Today we do not have banks of issue and notes cannot be converted into gold and silver, yet Smith’s lesson still applies: competition is […]

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Innovation and Governance in Book 1 of Wealth of Nations

Innovation and Governance in Book 1 of Wealth of Nations

“Smith is a friend of competitive markets and the division of labor and the institutions that secure these. But within the division of labor and the governance of these institutions, the population needs to be not just prudent, but also to become educated in skill, dexterity, and good judgment, as Smith shows in Book V.” […]

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