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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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Bicentenary of a great liberal
By Dr Eamonn Butler

A-de-T.jpgOn this day two hundred years ago, in Paris, Alexis de Tocqueville, was born. He is remembered today as a great historian, a leading exponent of liberal ideas, and the chronicler of democracy in America.

De Tocqueville (1805-1859), was born into an aristocratic family, but came to question the role of the aristocracy in the government of France. After the July Revolution of 1830, when power changed from the Bourbon to the Orleans family, de Tocqueville sensed the spirit of democracy that was rising in France, and set off to study how it worked in America.

In 1835 he published the first part of Democracy in America, a very positive account of American government. The second part, published in 1840, was much less positive, with strong warnings for France about the risks of centralized and despotic government.

De Tocqueville stood unsuccessfully for election to the Chamber of Deputies in 1837, but after being raised to the Legion of Honour for his book, he did win election, in 1839, and rose further through government, briefly serving as foreign minister.

His books are still read widely today, and stand out for his insights on freedom and democracy. Here's a sample:

Trade is the natural enemy of all violent passions. Trade loves moderation, delights in compromise, and is most careful to avoid anger. It is patient, supple, and insinuating, only resorting to extreme measures in cases of absolute necessity. Trade makes men independent of one another and gives them a high idea of their personal importance: it leads them to want to manage their own affairs and teaches them to succeed therein. Hence it makes them inclined to liberty and disinclined to revolution.

Happy birthday, Alexis!



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Adam Smith (1723-1790)
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.