Was Adam Smith Really a Right-Winger? (Update)

Adam Smith, the 18th-century Scottish moral philosopher, has been transformed from a nuanced thinker into a simplified icon of free-market capitalism. While modern political and economic discourse frequently invokes the "invisible hand" to justify deregulation and limited government, this interpretation often ignores Smith’s broader concerns regarding human welfare, inequality, and the dangers of corporate collusion. Scholars like Glory Liu and Russ Roberts argue that the University of Chicago’s mid-20th-century focus on price mechanisms and self-interest obscured the moral depth found in Smith’s *The Theory of Moral Sentiments*. By neglecting his earlier work, proponents of unbridled commerce have created a narrow caricature of Smith, missing his advocacy for public education and his skepticism toward powerful, rent-seeking interests. Reclaiming the real Adam Smith requires reconciling his economic insights with his fundamental commitment to human sympathy and virtue.