| 00:00:45 |
Unidentified Speaker, -
THERE WAS A FIRST EDITION, I DON'T THINK A FIRST PRINTING, BUT A FIRST EDITION OF ADAM SMITH'S "WEALTH OF NATIONS," AND THAT WILL RESTORED AFTER THE...
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| 00:04:15 |
Unidentified Speaker, -
A QUESTION. FOR A LECTURER TO START. I NOT ONLY DON'T KNOW OF ANY DIRTY JOKES THAT ADAM SMITH MADE OR RESPONDED TO, I CAN'T IMAGINE WHAT THEY'D HAVE...
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| 00:07:41 |
Unidentified Speaker, -
SORRY. >> -- ABOUT
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| 00:07:43 |
Unidentified Speaker, -
MY DELIVERY, WHICH IS
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| 00:07:45 |
Unidentified Speaker, -
AWFUL. [LAUGHTER] >> [INAUDIBLE] >>
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| 00:07:47 |
Unidentified Speaker, -
YOU'RE TURNING IT UP? >> I DIDN'T KNOW THAT
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| 00:07:49 |
Unidentified Speaker, -
THIS WAS -- >> IT SEEMS THEY'RE TURNING
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| 00:07:51 |
Unidentified Speaker, -
THE THINGS UP. >> I'M UNFAMILIAR
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| 00:07:53 |
Unidentified Speaker, -
WITH SUCH
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| 00:07:54 |
Unidentified Speaker, -
THINGS. >> RIGHT, OKAY. >>
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| 00:07:56 |
Unidentified Speaker, -
SORRY. [LAUGHTER] >> I NOW DON'T -- IS THIS
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| 00:07:59 |
Unidentified Speaker, -
GOING TO GO DOWN OR STAY UP? [LAUGHTER] SO, AS I SAY, MY INTENTION WAS TO WRITE A BIOGRAPHY OF SMITH AS SMITH SAW HIMSELF, THAT IS TO SAY AS A PHILOSOPHER....
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| 00:30:10 |
Unidentified Speaker, -
INTERESTING. NOW, IF PROFESSOR OF PHILLIPSON'S TALK HAS STIMULATED IN YOU A DESIRE TO BUY THIS BOOK, YOU SAY, MAN, I'D LIKE TO READ THAT BOOK, PRETTY...
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| 00:31:30 |
Unidentified Speaker, -
RIGHT. >> [INAUDIBLE] >>
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| 00:31:31 |
Unidentified Speaker, -
OKAY. OKAY, SEE. YOU CAN ALWAYS GET STRAIGHTEN BED OUT AT THESE THINGS. AND HE'S ALSO THE EDITOR OF "ADAM SMITH: SELECTED PHILOSOPHICAL WRITINGS." HIS...
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| 00:32:05 |
Unidentified Speaker, -
TOO FAMILIAR, BUT I THINK THAT'LL DO IT. >> THANK
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| 00:32:08 |
Unidentified Speaker, -
YOU. IT'S A PLEASURE TO BE HERE. AS YOU ALL WILL KNOW, ADAM SMITH IS ONE OF THE MOST BELOVED AND THE MOST HATED, THE MOST CITED AND YET PROBABLY FOR...
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| 00:46:26 |
Unidentified Speaker, -
OKAY. WE'VE HAD A VERY GOOD FORUM HERE TODAY. THIS HAS BEEN EXTRAORDINARY, I THINK. AND NOW WE'RE GOING TO CAP IT OFF WITH A GREAT QUESTION AND ANSWER...
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| 00:47:13 |
Unidentified Speaker, -
HANKIN, NO REAL AFFILIATION, JUST RETIRED ATTORNEY. I WANTED TO ASK, I GUESS, BOTH OF YOU WHETHER YOU THINK IN ANY WAY ADAM SMITH COULD BE CONSIDERED...
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| 00:48:03 |
Unidentified Speaker, -
OUR AUTHOR. >> I THINK THE SHORT ANSWER
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| 00:48:08 |
Unidentified Speaker, -
IS, NO, WHETHER HE CAN BE SEEN AS A FORERUNNER TO THE AUSTRIAN SCHOOL OF CHICK BEES -- ECONOMICS. THAT'S NOT TO SAY THEY WON'T AGREE ON WHAT MANY ASPECTS...
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| 00:49:37 |
Unidentified Speaker, -
THE THINGS THAT IS OFTEN FORGOTTEN WITH THE WEALTH OF NATIONS IS THE SHEER, THE CONSEQUENCES OF THE SHEER RICHNESS OF THAT BOOK. AND IT VERY MUCH,...
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| 00:52:05 |
Unidentified Speaker, -
AFRAID, KEYNES. >> [INAUDIBLE] >> WELL, I'M
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| 00:52:07 |
Unidentified Speaker, -
SORRY. I KNEW SOMEONE WAS GOING TO SAY THAT. >> A WHOLE NEW SET
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| 00:52:10 |
Unidentified Speaker, -
OF HANDS HAVE GONE UP. [LAUGHTER] >>
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| 00:52:12 |
Unidentified Speaker, -
I KNOW. THE FRAME OF MIND, THE FRAME OF MIND -- LET'S LEAVE ASIDE THE EXECUTION IN TERMS OF GOVERNANCE -- THE FRAME OF MIND HAS MUCH MORE IN COMMON...
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| 00:52:25 |
Unidentified Speaker, -
WE'LL JUST LEAVE THAT HANGING FOR THE MOMENT. [LAUGHTER] LET'S, THE GENTLEMAN IN THE SECOND ROW FROM THE AISLE. RIGHT HERE. I TEND TO GO ABOUT IT RANDOM,...
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| 00:52:43 |
Unidentified Speaker, -
THANK YOU. CARL POSENER, NOT AFFILIATED. PROFESSOR PHILLIPSON, WHAT THINGS DID YOU LEARN WHILE WRITING THIS BOOK THAT YOU DIDN'T KNOW ABOUT PREVIOUSLY...
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| 00:53:01 |
Unidentified Speaker, -
HUME. I'VE ALWAYS BEEN INTRIGUED BY THE RELATIONSHIP BETWEEN HUME AND SMITH AS ANYONE IS BOUND TO BE. IT'S THE DEPTH OF THAT RELATIONSHIP. AND THE...
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| 00:55:23 |
Unidentified Speaker, -
HERE. >> YES, MY NAME
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| 00:55:26 |
Unidentified Speaker, -
IS ROSALYNN McCLENNAN, AND I'M A THEATER REVIEWER FOR D.C. THEATER SCENE.COM, AND I JUST SURVIVED CANDID WHICH HAD A VERY SUCCESSFUL RUN HERE, A MUSICAL...
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| 00:56:07 |
Unidentified Speaker, -
PHYSIOACCURATES. >> PHYSIOCRATS, THANK YOU,
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| 00:56:11 |
Unidentified Speaker, -
AND THIS IDEA THAT YOU CAN GUARANTEE INDIVIDUAL LIBERTY, BUT YOU CAN'T GUARANTEE THE RESULTS. AND THERE WAS JUST DELIGHTFUL NUMBERS IN THE MUSICAL,...
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| 00:56:47 |
Unidentified Speaker, -
PASS IT ALONG? >> [LAUGHTER] THAT'S ALL IT IS, YOU JUST PASS IT ALONG. >> WHAT ABOUT IT,
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| 00:56:55 |
Unidentified Speaker, -
PROFESSOR? >> WE BOTH OUGHT TO HAVE A GO
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| 00:56:58 |
Unidentified Speaker, -
AT THAT. >>
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| 00:56:59 |
Unidentified Speaker, -
YES. >> WELL, I MUST SAY I WISH
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| 00:57:02 |
Unidentified Speaker, -
I'D SEEN THIS VERSION OF CANDID. WELL, THERE WAS ANOTHER VERSION APPROVED BY BERNSTEIN HIMSELF AND CONDUCTED BY JOHN MARCHERRY IN SCOTLAND A FEW YEARS...
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| 00:59:37 |
Unidentified Speaker, -
DOES. IN THE FOLLOWING WAY. SO HE DOES MENTION VOLTAIRE, AND HE DOES -- AND THE ANSWER TO YOUR FIRST QUESTION, PHILLIPSON DOES DISCUSS THE CONNECTION...
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| 01:01:25 |
Unidentified Speaker, -
POLITICAL LEADERS WHO IMAGINE THEMSELVES LIKE SECULAR GODS AND BRINGING THEM DOWN TO HAVE A FRAMEWORK AND WE LEAD OUR LIVES ON OUR OWN, THANK YOU...
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| 01:01:48 |
Unidentified Speaker, -
OKAY. WOULD YOU WANT TO SAY MORE THAN THAT? >> HE SAID IT
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| 01:01:56 |
Unidentified Speaker, -
E -- ELEGANTLY. I JUST DON'T SEE IT HAS ROOTS IN VOLTAR. IT BELONGS TO A FAMILY OF VIEWS. IF I HAD TO TRACK THE MAKINGS OF THAT THINKING, I WOULDN'T...
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| 01:02:21 |
Unidentified Speaker, -
REASONS. >> WE DON'T CARE AS LONG
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| 01:02:30 |
Unidentified Speaker, -
AS CANES DOESN'T SHOW UP AGAIN. >> HE REALLY
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| 01:02:34 |
Unidentified Speaker, -
STUDIED CAPITALISM, AND I BELIEVE YOU ALSO ORIGINATED THE TERM SURPLUS VALUE THAT PEOPLE HAVE INTERPRETED AS PROFIT. TO GET RID OF THE SURPLUS VALUE,...
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| 01:03:14 |
Unidentified Speaker, -
CHINA. I LIVE IN THE HOPE OF GETTING A CHINESE TRANSLATION TO MY BOOK. [LAUGHTER] BUT I VERY, VERY MUCH DOUBT WHETHER THE PRESENT GOVERNMENT AND THE...
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| 01:04:20 |
Unidentified Speaker, -
TO THAT? >>
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| 01:04:21 |
Unidentified Speaker, -
SURE. >> I WOULD SAY IN THE LAST
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| 01:04:23 |
Unidentified Speaker, -
30 YEARS OR SO CHINA HAS BEEN SURPRISED, THE LEADERSHIP HAS BEEN QUITE SURPRISED TO THE EXTENT SMITH'S IDEA WORKED. WHAT THEY DID HAS AFFECTED IN SMALL...
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| 01:05:16 |
Unidentified Speaker, -
ON THAT. I THINK ONE OF THE THINGS THAT WE DON'T TAKE ENOUGH ACCOUNT OF IN SMITH IS PRECISELY WHAT HE MEANS BY MARKETS. NOW, IF YOU LOOK AT THE MODELING...
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| 01:05:46 |
Unidentified Speaker, -
COUNTRIES, WOULDN'T YOU SAY? >> OH, YES, BETWEEN
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| 01:05:49 |
Unidentified Speaker, -
COUNTRIES, BUT THE NOTION OF MOVING -- I MEAN, THESE ARE THE TWO POLES ON WHICH HE OPERATES, BUT IT SEEMS TO ME THERE'S A REAL AMBIGUITY AND IT'S ACTUALLY...
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| 01:07:20 |
Unidentified Speaker, -
HERE HAS BEEN WAITING. >> I'M SORRY, I HAVE A
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| 01:07:30 |
Unidentified Speaker, -
COLD. I'M THE AUTHOR OF A FORTHCOMING BOOK WITH CAM BRIDGE UNIVERSITY PRESS ON THE ROLE OF THE STATE. I HAVE TO DISCUSS SOME OF THESE ISSUES. I HAVE...
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| 01:08:38 |
Unidentified Speaker, -
PREFACE BEFORE THE ANSWER? >> OF
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| 01:08:40 |
Unidentified Speaker, -
COURSE. >> SMITH WAS CERTAINLY
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| 01:08:42 |
Unidentified Speaker, -
CRITICAL OF MERCHANTS IN THE WEALTH OF NATIONS, BUT ALSO MANY CLASSES THE PEOPLE, NOT JUST MERCHANTS. PROFESSORS, PRIESTS, AND OTHER PEOPLE WHO USED CERTAIN...
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| 01:09:39 |
Unidentified Speaker, -
PREFACE. >> [INAUDIBLE] >> I ABSOLUTELY
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| 01:09:46 |
Unidentified Speaker, -
AGREE WITH THE COMMENT AND AGREE WITH JIM'S GLOSS ON IT. I BELIEVE THE IMPORTANT THING IS THAT SMITH WOULD NOT HAVE DENIED THERE WAS A ROLE FOR REGULATION....
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| 01:11:45 |
Unidentified Speaker, -
THING? >> YEAH. >> THIS MAY BE A
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| 01:11:48 |
Unidentified Speaker, -
DIFFERENCE BETWEEN -- I THINK SMITH WOULD BE AGNOSTIC WITH RESPECT TO REGULATORS. HE WANTED TO SEE WHAT REGULATIONS WE'RE TALKING ABOUT AND WHAT ARE...
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| 01:13:22 |
Unidentified Speaker, -
A LITTLE? BECAUSE ONE OF THE THINGS -- I MEAN, SOMEONE -- JIM, YOU DID, AS SMITH AS ONE THE FIRST GREAT SOCIAL SCIENTISTS, AND AS SUCH, ONE THE KEY...
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| 01:16:27 |
Unidentified Speaker, -
WE STARTED WITH THE PICTURE ON BILL'S WALL THAT CLAIMS RIGHTLY THAT ADAM SMITH WAS A GREAT BENEFACTOR OF MANKIND. THERE'S A BOOK WRITTEN ABOUT ADAM...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.