What Can Policy Makers Learn From Adam Smith?

2023 marked the tercentenary of the birth of Adam Smith. As we move into 2024, a year where we will likely see a General Election, we ask what can policy makers learn from his work?

Whilst the historical context is different, many of the issues that Smith was writing about remain relevant. What drives economic growth? How might economic institutions and policies be designed to maximise living standards? How should the gains from economic activity be shared? And, what are the gains (and losses) from international trade?

To discuss some of these questions, together with the University of Glasgow, we have brought together two panels of experts. At this in-person event they explored the relevance of Adam Smith’s work in 2024 and reflected upon the parallels between today’s trade policy challenges, particularly in a post-Brexit United Kingdom, with the general principles and ideas that Smith famously set out in The Wealth of Nations.

Panel 1: Adam Smith in 2024

Chaired by: Graeme Roy, Professor of Economics, Dean of External Engagement at the University of Glasgow and Chair of the Scottish Fiscal Commission

• Kathleen Riach, Professor of Organisational Studies at the Adam Smith Business School
• Sir Anton Muscatelli, Principal and Vice-Chancellor at the University of Glasgow
• Ronald MacDonald, Honorary Senior Research Fellow at the Adam Smith Business School
• Marcus Miller, Emeritus Professor at the University of Warwick

Panel 2: Adam Smith and Global Trade

Chaired by: Sayantan Ghosal, Adam Smith Chair in Political Economy at the Adam Smith Business School

• Maha Rafi Atal, Lecturer in Global Economy at the University of Glasgow
• David Williams, Professor at Queen Mary University of London
• Alan Winters, Professor of Economics at the University of Sussex