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Adam Smith and British Bubbles???
There’s a delightful moment in Adam Smith’s Wealth of Nations where he neatly demonstrates the efficacy and efficiency of free trade by talking about wine... So why are the French buying up vineyard land in England???
Adam Smith on Market Changes, Efficiency, and How to Fire Employees
Adam Smith understands that markets do and must churn as supply and demand and free trade move, but he also importantly argues for measures that make these changes more bearable for workers, like implementing changes gradually and eliminating privileges and regulations that unduly benefit or insulate the powerful.
Extras: Anne Bradley on the Political Economy of Terrorism
What happens if we acknowledge that terrorists are rational actors and that they, like the rest of us, are also responding predictably to incentives? Kevin Lavery listens in to a Great Antidote episode that takes that insight seriously. Find out more about the Political Economy of Terrorism with Anne Bradley and Juliette Sellgren.