Adam Smith, Economic Freedom, and Why History Keeps Repeating Itself

What can a 250-year-old book still teach us about today’s economy?

Host Dennis McCuistion is joined by economist, investment adviser,
and FreedomFest founder Mark Skousen to discuss his book
The Making of Modern Economics and the enduring influence of
Adam Smith.

Skousen traces the development of Smith’s “system of natural liberty,” the challenges
it faced from Marxists and central planners, and its renewed influence following the
fall of the Berlin Wall.

The conversation examines the warning signs of history repeating itself—from the
Smoot-Hawley tariffs and the Great Depression to today’s rising tariffs,
expanding executive power, and growing national debt.

Skousen also shares his perspective on gold, infrastructure vulnerabilities, and the
career paths that may continue to offer meaningful opportunities in a heavily regulated
economy.

Along the way, he explains why understanding economic history—and its long record of
failed doomsday predictions—is essential for evaluating the economic debates and policy
choices of the present.