Adam Smith wanted to increase everyone’s happiness. In Wealth of Nations he gave his formula for this good life: equality, liberty, and justice. To be true to the ideals of America’s founders, we should adopt this formula for a wealthy and happy nation.
Join Curry College Professor Emeritus John E. Hill and explore his research that argues that free market interpretations of Smith are gross misinterpretations that have produced a growing economic inequality which would have been anathema to both Smith and the American founders. What policies might we adopt today that would combine all three (equality, liberty, AND justice) so everyone can pursue happiness?
Smith’s aim was to influence legislators, so he suggested principles for policy decisions: an ethical market economy, evidence-based solutions, adapting best practices from around the world, and good government. These principles were designed to produce economic equality, which Smith strongly supported. The book suggests policy options to address contemporary problems in healthcare, education, crime, national defense, and taxation. Since we cannot know what specific policies Smith would have advocated, these are intended as suggestions for what might be done to increase everyone’s happiness, if we followed Smith’s principles.
A resident of Quincy for over 35 years, John Hill is an expert on our nation’s founders, especially John Adams, and on the father of capitalism, Adam Smith. He has written extensively and won accolades for teaching and advising.