Eamon Butler, Director of the Adam Smith Institute, shares insights on free-market ideologies, while Glory Liu, a scholar on Adam Smith, highlights his influence on American capitalism. Russ Roberts dives into the moral implications of Smith's theories, questioning the balance between market efficiency and ethics. The discussion tackles Smith's complex legacy, including his interpretations on colonialism and the misreading of his 'invisible hand' by modern economists. Together, they unravel the tensions in today's political climate, linking historical concepts to contemporary issues.