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The Tom Woods Show

Ep. 1268 Adam Smith, Karl Marx, and the Making of Modern Economics

The Tom Woods Show

Tom Woods

Politics, Government, News

4.83.4K Ratings

🗓️ 24 October 2018

⏱️ 42 minutes

🧾️ Download transcript

Summary

Mark Skousen joins me to discuss highlights and lowlights of the history of economic thought, and what we can learn from both.

Show notes for Ep. 1268

Transcript

Click on a timestamp to play from that location

0:00.0

The Tom Woods Show, episode 1268.

0:03.3

Prepare to set fire to the index card of allowable opinion.

0:07.9

Your daily dose of liberty education starts here, the Tom Woods Show.

0:14.4

Man, if you want to look your best, make sure you're wearing a suit that was made for you,

0:17.8

not just for some generic man.

0:19.8

Well, this week, my listeners can get any premium

0:21.8

made-to-measure Indochino suit for just $359 at Indochino.com when entering Woods at checkout.

0:29.8

Hey, everybody, Tom Woods here. Mark Skowson is back with us once again. Mark has done pretty much

0:35.8

everything there is to do.

0:37.7

He's been an author, a newsletter publisher, an investment strategist, a college professor.

0:45.6

He is also, of course, the organizer of Freedom Fest every year.

0:49.2

We'll talk about that, no doubt.

0:51.1

But today we want to talk about the making of modern economics, his book,

0:55.1

subtitle, The Lives and Ideas of the Great Thinkers. You should check him out at m-Skowson.com.

1:02.4

Scowson is spelled S-K-O-U-S-E-N. M-Skowson.com is his website. And I thought today we could talk a

1:09.5

little bit about Adam Smith. There's a little

1:11.7

controversy around Adam Smith and his role in the development of free market thought. And then we'll

1:16.6

branch out and talk about some other topics as well. Mark, welcome back. Well, glad to be back.

1:23.0

This is a honor for me, especially on my birthday, and so I'm really excited to talk to you about

1:29.2

the making of modern economics. I'm sorry I forgot about that. Happy birthday, Mark. Pleasure to talk to you

1:34.6

on your birthday. It's an unusual day because October 19th is the anniversary of the stock market

1:41.3

crash in 1987. I turned 40. My wife had a big celebration for me, but for some reason, all the stock market crash in 1987. I turned 40.

...

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