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525. In Search of the Real Adam Smith

Freakonomics Radio

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Adam Smith and the Roots of Economic Thought

This chapter examines the historical backdrop of Adam Smith's formative years in Kirkcaldy, revealing how local trade and aristocracy shaped his economic theories. It highlights key concepts from 'The Wealth of Nations,' emphasizing specialization, self-interest in exchange, and the shift away from mercantilist ideology. Through specific locations and personal anecdotes, the chapter underscores the profound influence of Smith's environment on his innovative contributions to economic thought.

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