Melvyn Bragg and his guests discuss Adam Smith's celebrated economic treatise The Wealth of Nations. Smith was one of Scotland's greatest thinkers, a moral philosopher and pioneer of economic theory whose 1776 masterpiece has come to define classical economics. Based on his careful consideration of the transformation wrought on the British economy by the Industrial Revolution, and how it contrasted with marketplaces elsewhere in the world, the book outlined a theory of wealth and how it is accumulated that has arguably had more influence on economic theory than any other.With:Richard Whatmore Professor of Modern History and Director of the Institute of Intellectual History at the University of St AndrewsDonald Winch Emeritus Professor of Intellectual History at the University of SussexHelen Paul Lecturer in Economics and Economic History at the University of SouthamptonProducer: Thomas Morris.

This week David talks to Richard Whatmore and Lea Ypi about what caused the loss of faith in the idea of Enlightenment at the end of the eighteenth century and the parallels with our loss of faith today. Why did hopes for a better, more rational world start to seem like wishful thinking? How was Britain implicated in the demise of Enlightenment ideals? And what might have happened if there had been no French Revolution?Richard Whatmore’s The End of Enlightenment is available now  Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Melvyn Bragg and guests discuss one of the most influential economists from the age of Adam Smith and Thomas Malthus. Ricardo (1772 -1823) reputedly made his fortune at the Battle of Waterloo, and he made his lasting impact with his ideas on free trade. At a time when nations preferred to be self-sufficient, to produce all their own food and manufacture their own goods, and to find markets for export rather than import, Ricardo argued for free trade even with rivals for the benefit of all. He contended that existing economic policy unduly favoured landlords above all others and needed to change, and that nations would be less likely to go to war with their trading partners if they were more reliant on each other. For the last two hundred years, Ricardo’s Theory of Comparative Advantage in support of free trade has been developed and reinterpreted by generations of economists across the political spectrum.WithMatthew Watson Professor of Political Economy at the University of WarwickHelen Paul Lecturer in Economics and Economic History at the University of SouthamptonAndRichard Whatmore Professor of Modern History at the University of St Andrews and Co-Director of the St Andrews Institute of Intellectual HistoryProducer: Simon Tillotson