Training Scholars Across Disciplinary Lines to Explore Adam Smith’s Approach to Political Economy

Adam Smith helped us understand how creative, but flawed, human beings can live better together. Although Smith is best known as a political economist, he also made considerable contributions to other disciplines including jurisprudence, astronomy, rhetoric, and moral philosophy. He studied and advocated for the study of human interactions and society from a multi-disciplinary approach. Specifically, Smith explained how individuals guided by the institutions of private property and the rule of law can build prosperous communities and overcome social challenges together. Despite the potential of his ideas to improve social science research and policy analysis, research and analysis that build on Smith’s insights is underrepresented in the academy. This deficiency weakens the understanding of the benefits that flow from protecting private property and preserving the rule of law. It also reduces society’s capacity to shape institutions that foster prosperity. In response, the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University will spread Smithian ideas across diverse academic disciplines and ideological perspectives through unique fellowships and new research on important societal questions, such as: (1) How do free and responsible people live peacefully and prosperously together? (2) What are the proper roles and limits of governments and civil society? and (3) What is the material and moral potential of markets? This project focuses on creating new learning environments to explore and discuss Smith’s approach to political economy from a variety of disciplines, ideological perspectives, and backgrounds. It will leverage rigorous research and proven student training strategies to increase the openness to Smithian ideas and advance cutting-edge research of social importance in the academy.