The unlikely story of how Americans canonized Adam Smith as the patron saint of free markets reveals the complex journey of his ideas. Originally published in 1776, The Wealth of Nations was celebrated by America's founders for its Enlightenment insights into wealth, governance, and morality. Today, Smith stands as a pivotal figure in American economic thought. Glory Liu investigates how Americans have interpreted and repurposed Smith's concepts over generations, illustrating how his image as a proponent of capitalism and free markets is a constructed narrative. Utilizing extensive archival research, Liu narrates how the Scottish philosopher captured the American imagination and influenced economic and political ideologies. She highlights Smith's emergence as the father of political economy in the nineteenth century, his association with free trade, and how the Chicago School of Economics redefined him as a champion of self-interest and free markets following the Great Depression. Liu also examines contemporary efforts by political theorists and intellectuals to reclaim Smith's original moral philosophy. Through this exploration, the book charts Smith's lasting appeal to American readers over two centuries, demonstrating how he remains a lens for addressing ongoing moral and political concerns surrounding modern capitalism.
