What would Adam Smith think of today’s global economy? Smith would almost certainly view today’s increasingly siloed economic order as a drag on efficiency, growth, and prosperity. While the industrial revolution generated immense wealth, Smith did not anticipate its significant negative externalities, most notably pollution and greenhouse gas emissions. While Smith would welcome AI’s potential to boost productivity and economic growth, he would be troubled by the growing market power of major tech companies. Dambisa Moyo, an international economist, is the author of Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth — and How to Fix It.

Source: Taipei Times March 28, 2026 18:31 UTC