April
2026

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2026

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2026

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2026

April 2026

Article

Book IV of Wealth of Nations: Political Economy as Moral Philosophy

By Brianne Wolf

For Smith, moral philosophy is the study of virtue and the faculty of mind that allows us to determine what is praise- or blameworthy conduct. When we understand the project of the moral sentiments, we can see that Smith adopts the same logic in his analysis of politica...

March 2026

Article

Why Adam Smith Embraced Commercial Society: The Wealth of Nations, Book 3

By Dennis C. Rasmussen

"Much of Book 3 is dedicated to a historical account of how and why the feudal order that prevailed throughout Europe for many centuries eventually gave way to a liberal, commercial order—that is, how a world dominated by hierarchy, dependence, and intrastate conflict...

Article

Wealth of Nations, Book 2: Prudence, Competition, and Party Walls

By Maria Pia Paganelli

The lesson is thus clear: Welcome multiple banks of issue and make sure there is always full convertibility, and bankers will be prudent and the economy will be stable and prosperous. Today we do not have banks of issue and notes cannot be converted into gold and silver...

Article

Innovation and Governance in Book 1 of Wealth of Nations

By Eric Schliesser

"Smith is a friend of competitive markets and the division of labor and the institutions that secure these. But within the division of labor and the governance of these institutions, the population needs to be not just prudent, but also to become educated in skill, dext...

February 2026

Featured Article

Trade, Tariffs, and Trust

By David Hebert

Trade is not just about transactions. It’s about relationships and trust built and earned over time. Just over a year ago, citing the International Emergency Economic Powers Act (IEEPA), President Trump began unilaterally changing tariff rates with countries around the wor...

Featured Article

The Major Tariff Question

By John O. McGinnis

Learning Resources reaffirms that taxation is Congress's responsibility, and declaring “emergency!” does not rewrite the separation of powers. The Supreme Court’s decision in Learning Resources v. Trump will have immediate political effects, substantial economic ...

Article

Property Rights and the Arctic Contest

By Maurizio Bovi

In recent years, the Arctic has returned to the center of public attention: the renewed interest in Greenland, the progressive opening of maritime routes due to ice melt, and the claims over areas like the Svalbard archipelago are clear signals that Arctic policy will r...

January 2026

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