In 2026, America will mark a remarkable convergence of anniversaries. It will be the 250th anniversary of Adam Smith’s The Wealth of Nations, which explained how free people, trading freely, could generate prosperity on a scale the world had never known. It will also be the 250th anniversary of the Declaration of Independence, the bold assertion that liberty, not power, is the rightful foundation of a just society. It will be a consequential midterm election year, shaping the direction of American policy for years to come.
That convergence should give Americans pause—because it arrives at a moment when the principles that undergirded both documents are no longer widely understood and increasingly taken for granted.
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