2026-01-02
32 分钟In 1723, in a small coastal town just 11 miles north of Edinburgh,
the father of economics was born.
More than 300 years later, an Adam Smith still looms large.
Until pretty recently, if you received a 20-pound note in Britain,
there was a decent chance Smith's face would be on it.
And his most famous book, The Wealth of Nations, was so influential,
former British Prime Minister Margaret Thatcher supposedly carried a copy in her handbag.
He's credited with coining some of the most familiar terms in economics.
Concepts like the invisible hand of the market and vested interests are all attributed to him.
But is it possible some of those influential ideas may not have been Smith's at all?
He was writing at a time when it was common to borrow big thoughts.
Now, more and more economic scholars think Smith may be guilty of that too.
So, did his famous pin factory actually come from an encyclopedia?
Do we only know his name because of his connections?
And is he really the father of economics, or is he just a bit overrated?
You're listening to Money Talks from The Economist.
Our weekly podcast on the markets, the economy, and the world of business.
In Washington, DC, I'm Alice Fulwood.
In New York, I'm Mike Bird.
And in today's show: