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The Adam Smith Institute
The Adam Smith Institute is the UK's leading innovator of free-market policies. Named after the great Scottish economist and author of The Wealth of Nations, its guiding principles are free markets and a free society. It researches practical ways to inject choice and competition into public services, extend personal freedom, reduce taxes, prune back regulation, and cut government waste.
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Better campaigners than economists
By Dr Eamonn Butler
Coldplay frontman Chris Martin [pictured] has said that Ghana's rice, tomato and poultry farmers need to be protected from cheap imports. Yet the problems of Ghana's farmers lie elsewhere: they and other entrepreneurs are stifled by punitive tax regimes and the high cost of capital, not to mention our disarrayed land tenure systems which lead to low crop production. The real solution to Africa's ills, he says, will not come from media-savvy but economically flaky campaigns; it will come by harnessing the entrepreneurial spirit that exists everywhere. Then: As our economies grow and develop, people will be able to afford better technologies, clean water, superior energy sources, better healthcare, and insurance. But one is unlikely to hear such ideas from rock stars...While these high-profile campaigns continue to blame western countries for our poverty, they simply give our own politicians more excuses to delay badly needed institutional reforms. Poor Africans would be far better off without rock-star economics. Feedback
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Adam Smith was the great Scottish philosopher and economist best known for "The Wealth of Nations", his pioneering book on free trade and market economics.
A wide selection of material about Adam Smith is now available on the Adam Smith website. This includes the full text of his two major works, The Theory of Moral Sentiments and The Wealth of Nations. |