The ‘free market’ is a fever dream and Adam Smith wasn’t in it

One concept that comes up a lot on the Rhodes Center Podcast: the idea of the 'free market’.The idea, as you might know it, begins with John Locke, is fashioned fully by Adam Smith, and is delivered to us gift-wrapped (after some delays) by the likes of Hayek and Friedman in the mid 20th century.But as our guest on this episode explains, the idea of the free market is hardly so straightforward. Jacob Soll is a professor of philosophy, history, and accounting at the University of Southern California, and in his book “Free Market: The History of an Idea,” he begins way back in ancient Rome, stops in 17th-century France with Louis XIV’s minister Jean-Baptiste Colbert, and, on the way to the present, barely mentions Adam Smith at all. No matter what you think of when you hear the words ‘free market’, Jacob's incredibly informative – and highly readable – history will make you see the concept in a whole new light. Learn more about and purchase Jacob’s Book “Free Market: The History of an Idea”Learn more about the Watson Institute’s other podcasts