This book marks the 250th anniversary of The Wealth of Nations with a fresh appraisal of Adam Smith’s ideas, legacy, and intellectual context. It examines his economic theories—division of labour, critiques of mercantilism, and early notions of comparative advantage—highlighting their originality, influence, and relevance today.

Smith’s broader philosophical system is also explored, including his theory of mind, moral philosophy, and views on governance. This book situates him within the intellectual currents of his time, offering new perspectives on how his thinking was shaped and how it continues to resonate.

In addition to historical analysis, this book applies Smith’s principles to modern contexts, reaffirming his relevance to contemporary debates in policy and political economy. It challenges the narrow view of Smith as solely an economist and presents him as a multidimensional thinker whose work remains vital.

Intended for students and scholars, this is a rigorous and thought-provoking collection that repositions Smith as both a figure of the Enlightenment and a guide for the present.

Max Rangeley runs a think tank founded by a member of Parliament in the UK and has served on the boards of other think tanks in London and Brussels. He has put an emphasis on the importance of emerging technologies, including organising and moderating the artificial intelligence roundtable discussions in the European Parliament. Max has authored and co-edited several books with Springer Nature, on central banking, trade, artificial intelligence, the future of money and the power of the mind in medicine among other topics. He studied at the London School of Economics, the University of Aberdeen, and HEC Paris.

James Lawson is a chairman of the Adam Smith Institute, one of the world’s leading think tanks, recognised as the best domestic and international economic policy think-tank in the UK and 1st in the world among Independent Think Tanks according to a University of Pennsylvania study. James Lawson also has experience from business and government. His day job is as a director at Helsing, one of Europe’s leading technology companies, whose mission is to “protect our democracies”. Previously, in government, he was appointed by successive Prime Ministers as a senior special adviser in the Cabinet Office.

Jasper Ostle is the Head of Research and Education of the Adam Smith Institute, a free-market, liberal think tank based in London. He has contributed towards public policy research on housing, sanctions, energy, tax, and more. He also coordinates all educational projects, including talks at schools and universities, student outreach and academic publications. Before joining the Institute he graduated from the University of Cambridge with a first-class degree in Human, Social and Political Sciences, specialising in intellectual history.