Emma Rothschild — 2023 Markets & Society Conference Keynote

We're celebrating 300 years of Adam Smith! On this episode of the Hayek Program Podcast, we'll hear a keynote from the 2023 Markets & Society conference given by Emma Rothschild, the Jeremy and Jane Knowles Professor of History at Harvard University. In this lecture, Emma Rothschild begins by building an understanding of Adam Smith's conception of markets. She reanalyzes Smith's "invisible hand" metaphor, challenging the traditional interpretation and suggesting that it might not primarily refer to markets or economic equilibrium but rather the economics of uncertainty and trust. Emma also discusses Frank Knight, F.A. Hayek, Smith's frustration with the frivolity of markets, the abolition of feudalism, the four bad markets, Smith's hope for the future, and more.This lecture is part of the University of Glasgow’s Smith@300: Celebrating Adam Smith as Scholar, Educator, and Citizen supported by the John Templeton Foundation.The introduction is given by Craig Smith.Read more about Emma Rothschild.If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.Virtual Sentiments, our new podcast series from the Hayek Program is now streaming! Subscribe today and listen to season two, now releasing!Follow the Hayek Program on Twitter: @HayekProgramLearn more about Academic & Student ProgramsFollow the Mercatus Center on Twitter: @mercatusCC Music: Twisterium