Stephen Dubner

But it wasn't just the beauty of Smith's writing that won praise.

It was his humanity, his sympathy.

He argued, for instance, that wealth does not necessarily indicate moral virtue, nor does poverty preclude it.

Here is a passage from the book.

The book brought Smith a sterling reputation as a writer, philosopher and public intellectual, which is why some of his friends thought it odd that he accepted a position as a tutor to a 17-year-old Duke, the stepson of a future chancellor of the Exchequer.

This assignment included travel around continental Europe.

Smith grew bored with the tutelage itself, but he did get to spend time with Voltaire, with the economist François Canet, and with Benjamin Franklin.

He also had the chance to observe how other nations were dealing with the massive economic changes being produced by the rise in global trade and the onset of the Industrial Revolution.

In a word, he thought they were dealing poorly.

Governments, he noted, often had protectionist instincts, where Smith thought they ought to be more open to free trade.

After a couple of years, he returned to Scotland and threw himself into his next book.

Smith had never been accused of being a fast writer, and it turned out to be 17 years between the publication of The Theory of Moral Sentiments and the release of his second and final book, The Wealth of Nations.

The publication of The Wealth of Nations coincided with two major events.

The first was the death of the philosopher David Hume, Smith's best friend and most significant mentor.

And the second major event.

Well, this was the year that Britain lost control of its colonies in America.

Eamon Butler again.

Now, when you say he was speaking to leaders, were those primarily European?

And I realize he started writing Wealth of Nations long before 1776.

Do you think he had America in mind at all?