Hayek Program Podcast

The Hayekian Triangle: The Wealth of Nations at 250

Welcome to our new series, The Hayekian Triangle. This series will feature a range of conversations between our hosts: Virgil Storr, Chris Coyne, and Peter Boettke. On this episode, the three sit down to mark the 250th anniversary of Adam Smith's The Wealth of Nations — and to ask a deceptively simple question: why are we still reading a book written a quarter-millennium ago? From the invisible hand to the division of labor, Smith's ideas have become so embedded in how we think about markets and society that it's easy to forget just how radical they originally were. Virgil, Chris, and Pete dig into what Smith actually said, why the standard takes on laissez-faire and self-interest so often miss the mark, and what a Scottish moral philosopher writing in 1776 still has to teach us about wealth, poverty, and the institutions that make human flourishing possible. Whether you're coming to Smith for the first time or returning to him with fresh eyes, this conversation is a reminder that the greatest works in political economy aren't monuments to be admired from a distance — they remain living inputs into the science of today. **This episode was recorded on April 3, 2026** Show Notes: * Adam Smith, The Wealth of Nations [https://about.libertyfund.org/books/an-inquiry-into-the-nature-and-causes-of-the-wealth-of-nations-2-volume-bundle/] (Liberty Fund, 1982) * Adam Smith, The Theory of Moral Sentiments [https://about.libertyfund.org/books/the-theory-of-moral-sentiments/] (Liberty Fund, 1982) * Kenneth Boulding, "After Samuelson, Who Needs Adam Smith? [https://read.dukeupress.edu/hope/article-abstract/3/2/225/12381/After-Samuelson-Who-Needs-Adam-Smith]" (History of Political Economy, 1971) * Kenneth Boulding, "Economics as a Moral Science [https://cooperative-individualism.org/boulding-kenneth_economics-as-a-moral-science-1969.pdf]" (The American Economic Review, 1969) * Daron Acemoglu and James Robinson, The Narrow Corridor: States, Societies, and the Fate of Liberty [https://www.penguinrandomhouse.com/books/555400/the-narrow-corridor-by-daron-acemoglu-and-james-a-robinson/] (Penguin Press, 2019) * Raghuram Rajan, The Third Pillar: How Markets and the State Leave the Community Behind [https://www.penguinrandomhouse.com/books/566369/the-third-pillar-by-raghuram-rajan/] (Penguin Press, 2019) * Deirdre McCloskey, The Bourgeois Virtues: Ethics for an Age of Commerce [https://press.uchicago.edu/ucp/books/book/chicago/B/bo3750637.html]; Bourgeois Dignity: Why Economics Can't Explain the Modern World [https://press.uchicago.edu/ucp/books/book/chicago/B/bo9419313.html]; Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World [https://press.uchicago.edu/ucp/books/book/chicago/B/bo22655327.html](University of Chicago Press, 2006, 2010, 2016) * Martha Nussbaum, The Cosmopolitan Tradition: A Noble but Flawed Ideal [https://www.hup.harvard.edu/books/9780674260399](Belknap Press/Harvard University Press, 2019) * Ludwig von Mises, “Why Read Adam Smith Today? [https://fee.org/resources/why-read-adam-smith-today/]” (FEE, 2015) * Richard Ebeling, "Celebrating Adam Smith's Wealth of Nations at 250 Years [https://www.fff.org/explore-freedom/article/celebrating-adam-smiths-wealth-of-nations-at-250-years/]" (Future of Freedom, 2026) If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts. Check out our other podcast from the Hayek Program! Virtual Sentiments [https://www.mercatus.org/hayekprogram/virtual-sentiments] is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today! Follow the Hayek Program [https://twitter.com/hayekprogram] on Twitter: @HayekProgram Follow the Mercatus Center [https://twitter.com/mercatus] on Twitter: @mercatus CC Music: Twisterium

Liya Palagashvili on the Startup Mindset: How to Build a Career in Economics

On this episode of the Hayek Program Podcast, Peter Boettke and Liya Palagashvili reflect on her journey from undergraduate student organizer to public intellectual, policy analyst, and Director of the Labor Policy Project. They discuss how Liya has approached her career with a startup mindset — exploring her work on the gig economy and portable benefits to create more dynamic and resilient labor markets. Along the way, they reflect on the importance of mentorship, “failing fast,” and the tension between holding a strong vision while remaining open to new evidence. Dr. Liya Palagashvili [https://www.mercatus.org/scholars/liya-palagashvili] is a Senior Research Fellow and Director of the Labor Policy Project at the Mercatus Center at George Mason University and an alum of the Mercatus PhD Fellowship. Her research focuses on labor regulations, the gig economy, and the changing nature of work. She regularly writes for her Substack, Labor Market Matters [https://liyapalagashvili.substack.com/]. **This episode was recorded on March 31, 2026** Show Notes: * Mary Catherine Bateson, Composing a Life [https://groveatlantic.com/book/composing-a-life/] (Grove Press, 2001) * Casey B. Mulligan, The Redistribution Recession: How Labor Market Distortions Contracted the Economy [https://global.oup.com/academic/product/the-redistribution-recession-9780199942213?cc=us&lang=en&] (Oxford University Press, 2014) * Edited by Richard A. Epstein, Mario J. Rizzo, and Liya Palagashvili, The Routledge Handbook of Classical Liberalism [https://www.taylorfrancis.com/books/oa-edit/10.4324/9781003276784/routledge-handbook-classical-liberalism-richard-epstein-mario-rizzo-liya-palagashvili] (Routledge, 2026) * Angela Duckworth, Grit: The Power of Passion and Perseverance [https://angeladuckworth.com/grit-book/] (Scribner, 2016) * ParentData [https://parentdata.org/join-today/?utm_source=IMM&utm_medium=GG-Search&utm_campaign=Branded-Search&utm_a=186594569919&gad_source=1] If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts. Check out our other podcast from the Hayek Program! Virtual Sentiments [https://www.mercatus.org/hayekprogram/virtual-sentiments] is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today! Follow the Hayek Program [https://twitter.com/hayekprogram] on Twitter: @HayekProgram Follow the Mercatus Center [https://twitter.com/mercatus] on Twitter: @mercatus CC Music: Twisterium

Violent Saviors: A Conversation With Bill Easterly

On this episode of the Hayek Program Podcast, Peter Boettke talks with Bill Easterly about his new book, Violent Saviors: The West’s Conquest of the Rest [https://www.hachettebookgroup.com/titles/william-easterly/violent-saviors/9781541675759/?lens=basic-books]. Drawing on figures such as Adam Smith, P.T. Bauer, and Amartya Sen, Easterly argues that material progress alone cannot justify the denial of human dignity and consent. The conversation explores the idea of the “benevolent autocrat” and examines how both colonialism and modern development policy have too often treated people as objects of improvement rather than agents of their own lives. Along the way, Boettke and Easterly discuss state capacity, slavery, colonialism, migration, and post-communist transitions, making the case that freedom is not just a means to development but an end in itself. Dr. William Easterly [https://www.williameasterly.org/] is Professor Emeritus of Economics at New York University and Co-director Emeritus of the NYU Development Research Institute. He is the author of numerous books, including The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor [https://www.hachettebookgroup.com/titles/william-easterly/the-tyranny-of-experts/9780465080908/] (Basic Books, 2014), The White Man’s Burden: Why the West’s Efforts to Aid the Rest Have Done So Much Ill and So Little Good [https://www.penguinrandomhouse.com/books/292753/the-white-mans-burden-by-william-easterly/] (Penguin Books, 2006), and The Elusive Quest for Growth: Economists’ Adventures and Misadventures in the Tropics [https://mitpress.mit.edu/9780262550420/the-elusive-quest-for-growth/] (MIT Press, 2001). **This episode was recorded on February 2, 2026** Show Notes: * Acemoglu and Robinson, The Narrow Corridor: States, Societies, and the Fate of Liberty [https://www.penguinrandomhouse.com/books/555400/the-narrow-corridor-by-daron-acemoglu-and-james-a-robinson/] (Penguin Books, 2020) * Amartya Sen, Development As Freedom [https://penguinrandomhousehighereducation.com/book/?isbn=9780385720274] (Vintage, 2000) * David Colander, Why aren't Economists as Important as Garbagemen? [https://www.routledge.com/Why-arent-Economists-as-Important-as-Garbagemen/Colander/p/book/9780873327763] (Routledge, 1991) * Matt Kibbe, Don't Hurt People and Don't Take Their Stuff: A Libertarian Manifesto [https://www.harpercollins.com/products/dont-hurt-people-and-dont-take-their-stuff-matt-kibbe?variant=32207626305570] (HarperCollins, 2015) If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts. Check out our other podcast from the Hayek Program! Virtual Sentiments [https://www.mercatus.org/hayekprogram/virtual-sentiments] is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today! Follow the Hayek Program [https://twitter.com/hayekprogram] on Twitter: @HayekProgram Follow the Mercatus Center [https://twitter.com/mercatus] on Twitter: @mercatus CC Music: Twisterium

Chandran Kukathas — 2023 Markets and Society Conference Keynote

On this episode of the Hayek Program Podcast, Chandran Kukathas delivers a keynote lecture at the 2023 Markets & Society conference arguing that an open society is best understood as a regime of toleration—one that can never be perfectly realized because every regime ultimately relies on power. He explores why toleration cannot be neatly limited by moral theory, why appeals to justice often beg the question, and how societies move closer to or further from openness depending on how they handle issues such as immigration and social integration. Along the way, he reflects on liberalism, pluralism, empire, and the challenge of sustaining a society open enough to accommodate different ways of life. Dr. Chandran Kukathas [https://www.mercatus.org/hayekprogram/scholars/chandran-kukathas] is Lee Kong Chian Chair Professor of Political Science at School of Social Sciences at Singapore Management University and a Distinguished Affiliated Fellow at the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center. He is the author of many books, including Dialogues on Immigration and the Open Society [https://www.mercatus.org/hayekprogram/research/books/dialogues-immigration-and-open-society](Routledge, 2025), Immigration and Freedom [https://www.mercatus.org/hayekprogram/research/books/immigration-and-freedom] (Princeton University Press, 2021), and The Liberal Archipelago: A Theory of Diversity and Freedom [https://www.mercatus.org/hayekprogram/research/books/liberal-archipelago] (Oxford University Press, 2007). **This episode was recorded on October 22, 2023** If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts. Check out our other podcast from the Hayek Program! Virtual Sentiments [https://www.mercatus.org/hayekprogram/virtual-sentiments] is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today! Follow the Hayek Program [https://twitter.com/hayekprogram] on Twitter: @HayekProgram Follow the Mercatus Center [https://twitter.com/mercatus] on Twitter: @mercatus CC Music: Twisterium

Senator Phil Gramm and Don Boudreaux on the Triumph of Economic Freedom

On this episode of the Hayek Program Podcast, Peter Boettke talks with former U.S. Senator Phil Gramm and Don Boudreaux about their new book, The Triumph of Economic Freedom [https://www.bloomsbury.com/us/triumph-of-economic-freedom-9798881808365/], a sweeping challenge to seven persistent myths about American capitalism. The conversation ranges from the Industrial Revolution and the Great Depression to the financial crisis. Along the way, they reflect on why these myths endure, why economic freedom has done more than any other force to improve the lives of ordinary people, and why economists and educators must keep returning to history and basic economic reasoning in an age when old policy errors are constantly resurrected in new forms. Dr. Gramm [https://www.aei.org/profile/phil-gramm/] served six years in the U.S. House of Representatives and eighteen years in the U.S. Senate where he was Chairman of the Banking Committee. Gramm is a Visiting Scholar at the American Enterprise Institute. He was Vice Chairman of UBS Investment Bank and is now Vice Chairman of Lone Star Funds. He taught Economics at Texas A&M University and has published numerous articles and books including The Myth of American Inequality: How Government Biases Policy Debate [https://www.bloomsbury.com/us/myth-of-american-inequality-9781538190135/] (Bloomsbury Publishing, 2024), coauthored with Robert Ekelund and John Early, a Wall Street Journal Best Book of 2022 and winner of the 2024 Hayek Book Prize. Dr. Boudreaux [https://www.mercatus.org/hayekprogram/scholars/donald-j-boudreaux] is a Senior Fellow with the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University; a Professor of Economics and former economics-department chair at George Mason University; an Adjunct Scholar at the Cato Institute; and holds the Martha and Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center. He is the author of numerous books, including The Essential Hayek [https://www.mercatus.org/hayekprogram/research/books/essential-hayek] (Fraser Institute, 2015) and Globalization (Greenwood Press, 2007). Show Notes: * Sven Beckert’s, Capitalism: A Global History [https://www.penguinrandomhouse.com/books/541160/capitalism-by-sven-beckert/] (Penguin Press, 2025) * Thomas Sowell’s, A Conflict of Visions: Ideological Origins of Political Struggles: Revised Edition [https://www.hachettebookgroup.com/titles/thomas-sowell/a-conflict-of-visions/9780465002054/?lens=basic-books] (Basic Books, 2007) * Adam Smith’s, An Inquiry into the Nature and Causes of the Wealth of Nations [https://about.libertyfund.org/books/an-inquiry-into-the-nature-and-causes-of-the-wealth-of-nations-2-volume-bundle/] (Liberty Fund, 1982) * Milton and Rose Friedman’s, Free to Choose: A Personal Statement [https://www.harpercollins.com/products/free-to-choose-milton-friedmanrose-friedman?variant=39936635502626] (Harper Collins Publishers, 1990) * Fraser Institute | Realities of Socialism [https://www.fraserinstitute.org/categories/realities-socialism] **This episode was recorded on February 25, 2026** If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts. Check out our other podcast from the Hayek Program! Virtual Sentiments [https://www.mercatus.org/hayekprogram/virtual-sentiments] is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today! Follow the Hayek Program [https://twitter.com/hayekprogram] on Twitter: @HayekProgram Follow the Mercatus Center [https://twitter.com/mercatus] on Twitter: @mercatus CC Music: Twisterium