Adam Smith's America

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Originally published in 1776, Adam Smith's work was celebrated by America's founders as a pivotal contribution to Enlightenment thought regarding national wealth, governance, and moral virtue. Smith has since become a central figure in American economic discourse. Glory Liu examines how various generations have interpreted and utilized Smith's ideas, revealing that his image as a proponent of American capitalism and free markets is a constructed narrative. Utilizing extensive archival materials, Liu narrates how this modest Scottish philosopher captivated the American public and significantly influenced economic and political ideologies. She illustrates Smith's emergence as the father of political economy in the nineteenth century, linking him to free trade, and how the Chicago School of Economics redefined him as the leading theorist of self-interest and free markets post-Great Depression. Liu also highlights efforts by contemporary political theorists to reclaim Smith's original intentions and restore his standing as a moral philosopher. By tracing the lasting appeal of this Scottish thinker over two centuries, the work reveals how Smith remains a crucial lens for addressing ongoing moral and political concerns surrounding modern capitalism.