What Would Adam Smith Make of Australia? | A C+ Scorecard
About this episode
The episode discusses how Australia's market economy has deviated from Adam Smith's vision, highlighting issues like weak competition and high household debt.
Adam Smith is often invoked as the intellectual godfather of modern capitalism — but he was also a moral philosopher. Judo Bank founder and former CEO Joseph Healy joins Gene Tunny to argue that Australia’s market economy has drifted from Smith’s vision. From weak competition and high household debt to corporate scandals and lobbying influence, this episode explores whether capitalism has been “hijacked by capitalists” — and why complacency may be Australia’s greatest economic risk.
Topics covered
- Adam Smith
- capitalism
- Australia
- market economy
- competition
- household debt
- corporate scandals
- lobbying
Keywords
- economic risk
- moral philosophy
- capitalists
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