OVERRIDE

Adam Smith and the Origins of American Enterprise

How America's Industrial Success was Forged by the Timely Ideas of a Brilliant Scots Economist

Roy C. Smith

Truman Talley Books

Adam Smith was a Scottish professor of moral philosophy. He published his classic The Wealth of Nations in 1776, the year the American Revolution began. Smith became widely known for his ideas of free markets, laissez-faire commerce, and the "invisible hand." Yet English politicians, landed gentry, and the nobility paid little attention and enacted none of Smith's suggested reforms.

The American colonies, however, began their existence as an independent nation in 1781 with no money, no industry, no banks, and deep in debt. The Founding Fathers-particularly Alexander Hamilton, James Madison, and Benjamin Franklin-turned to the ideas of Adam Smith to create and jump-start an economic system for America with both immediate and long-sustained results.

This little-known but vital part of U.S. history is now revealed in Roy C. Smith's highly readable new book.

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  Adam Smith and the Origins of American Enterprise
CHAPTER 1ENLIGHTENMENT AND THE NEW ECONOMICSIn 1718, a twenty-four-year-old Frenchman named François Marie Arouet was released from the Bastille, where he had been imprisoned for a year because of satirical remarks critical of the French monarchy and its harsh system of social justice. The fact that someone else, not Arouet, had written the offending words did not matter much, since Arouet, though from a good family and well-introduced into society, was known as a stinging critic who could reliably be counted on to ridicule or satirize
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ABOUT THE AUTHOR

  • Roy C. Smith

  • Roy C. Smith, an Annapolis graduate, was an investment banker at Goldman Sachs for twenty years and has been a professor of entrepreneurship and finance at New York University's Stern School for the past fourteen years. He is the author of several books, including The Global Bankers, The Money Wars, and The Wealth Creators. He lives in Montclair, New Jersey.
  • Roy C. Smith NYU Photo Bureau Anne Marie Poyo Furlong
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    Adam Smith and the Origins of American Enterprise

    How America's Industrial Success was Forged by the Timely Ideas of a Brilliant Scots Economist

    Roy C. Smith

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    Truman Talley Books

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