Most men and events tend to fade away over time. Therefore, it is deeply gratifying to realize that even after 300 years, my name remains relevant and that an event has been organized inviting essays on the theme of “What Adam Smith would write about now.” I am delighted to contribute to this occasion. This topic resonates profoundly with my lifelong endeavor, which might be characterized as a passionate attempt by a “man of letters” to present an alternative intellectual framework for understanding the world. My perspective stood in stark contrast to the old mercantilist and semi-feudal order, which viewed the world as a largely zero-sum game. I considered such a worldview misguided and believed my perspective offered a more intelligent way of interpreting the world.

Much has changed over the centuries, and I feel gratified that my ideas have contributed to this progress. Yet, this is no time for complacency. While the wealth generated by free markets has been extraordinary, the proportion allocated to lifting the poor out of poverty is disappointingly smaller than I had envisioned. I am not an apologist for the simplistic capitalist system that many have in mind; indeed, such a conception seems misguided and overly reductive. First and foremost, I see myself as a moral philosopher. My Inquiry into the Nature and Causes of the Wealth of Nations was conceived as a sequel to The Theory of Moral Sentiments, and I believe these works should be read together. They reflect two dialectical aspects of human nature: we are both self-interested creatures and social beings capable of virtue. Society’s task, then, is to harness these dual forces effectively. Unfortunately, the world has predominantly focused on the self-interest aspect while neglecting the subtle complexities and virtues that underpin a truly free market capitalist society.