The Adam Smith Institute was set up in 1977 by a group of British expats. It promoted free market theories and free society theories. The institute moved to London just before Thatcher became Prime Minister. In 1979, Mrs Thatcher was elected as the UK's first female PM.
Economists and politicians have turned him into a mascot for free-market ideology. Some on the left say the right has badly misread him. Prepare for a very Smithy tug of war. (Part 2 of “In Search of the Real Adam Smith.”)