Economist and American Revolutionary: Adam Smith and 1776

2026 marks the 250th anniversary of two momentous historical events: the publication of Adam Smith’s Inquiry into the Nature and Causes of the Wealth of Nations, on March 9, 1776, and, four months later, the proclamation of the Declaration of Independence on July 4, 1776. Our world continues to be shaped by the ideas expressed in both texts. This lecture outlines and reflects upon Adam Smith’s analysis of the economic factors contributing to the conflict and his thoughts on how the crisis might be settled. It demonstrates that Smith was prepared to contemplate solutions that had revolutionary implications for America — and, for that matter, Britain. It concludes by delineating the lessons that Smith’s engagement with these matters offers us today.

Recommended Readings:

Adam Smith, “Smith’s Thoughts on the State of the Contest with America, February 1778,” in The Glasgow Edition of the Works and Correspondence of Adam Smith, vol. VI, The Correspondence of Adam Smith, eds. E.C. Mossner and I.S. Ross (Indianapolis, IN: Liberty Fund, 1987), Appendix B, 377-380. 

Samuel Gregg, "Economist and Revolutionary: Adam Smith and 1776" AIER White Paper #19, (April 2026) 

Andrew S. Skinner, “Adam Smith and America: The Political Economy of Conflict,” in Scotland & America in the Age of Enlightenment, eds. Richard B. Sher and Jeffrey R. Smitten (Edinburgh: Edinburgh University Press, 1990).