Countdown to Christmas
1 - Adam Smith

IAF Smith 2022
  • Adam Smith is the great grandfather of liberalism as we know it today: Before the Scottish Enlightenment, the term “liberal” was used in a pre-political way (e.g. meaning tolerant or generous) but after the publication of Smith’s “The Wealth of Nations” it was associated with a distinct political agenda, most notably free trade.
  • Although many people think of Adam Smith only as the “father of modern economics”, his first publication (“The Theory of Moral Sentiments”) was a treatise on moral philosophy. In fact, Adam Smith occupied the position of “Head of Moral Philosophy” at the University of Glasgow before starting his economic investigation and why certain countries got rich while others remained poor.

Gift Idea

IAF - Adam Smith gift idea

This bright red Adam Smith sweater is the perfect item to make a great fashion statement during the holidays. The global rise of protectionism and the widespread acceptance of more and more interventions into the spontaneous order of markets can only be countered by carrying the legacy of the most lovely guy in liberalism on your chest. 

Plus, it’s a nice reminder that we wouldn’t have all those nice gifts under our Christmas trees without free trade and the mutually beneficial exchanges of a capitalist system.

Sven Gerst