Adam Smith's hopes for a liberal America

Michaela Loughran and Daniel B Klein

Economic Affairs, 2025, vol. 45, issue 2, 203-223

Abstract: Adam Smith's Wealth of Nations was first published on the cusp of the American Revolution in the turbulent spring of 1776. In his discussion of the current relationship between Great Britain and her American colonies, Smith expresses optimism regarding the future success of America despite the fact she had not yet declared independence. The root of this optimism can be traced to the concurrence between the ‘new form of government’ that Smith saw the colonists to be ‘employed in contriving’ and Smith's own notions regarding good governance. The American colonies had already governed themselves according to principles shared by Smith and were now on the verge of constructing a new government based on those principles, giving Smith reason to be optimistic about their future as an independent nation.

Date: 2025
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