Nobel Laureate on the Morality of Markets | Guest: Vernon Smith | Ep 88

Matt Kibbe is joined by Nobel laureate economist Vernon Smith to talk about how the market process is not only efficient, but also encourages communities to peacefully cooperate. The misconception about laissez-faire economics is that it’s ruthless and Darwinian, but Smith shows through his own experimental work that free markets foster morality and consideration of others far more than top-down systems like socialism. They also dig into the legacy of Adam Smith, the first person to fully explain these ideas to the Western world.

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Matt Kibbe

Matt Kibbe is President at Free the People, an educational foundation using video storytelling to turn on the next generation to the values of personal liberty and peaceful cooperation. He is also co-founder and partner at Fight the Power Productions, a video and strategic communications company. Kibbe is the host of BlazeTV’s Kibbe on Liberty, a popular podcast that insists that you think for yourself.

Dubbed “the scribe” by the New York Daily News, Kibbe is the author three books, most recently the #2 New York Times bestseller Don’t Hurt People and Don’t Take Their Stuff: A Libertarian Manifesto.

He was senior advisor for a Rand Paul Presidential Super PAC in 2016, and later co-founded AlternativePAC to promote libertarian values.

In 2004 Kibbe founded FreedomWorks, a national grassroots advocacy organization, and served as President until his departure in 2015. Steve Forbes said: “Kibbe has been to FreedomWorks what Steve Jobs was to Apple.”

An economist by training, Kibbe did graduate work at George Mason University and received his B.A. from Grove City College. He serves at the whim of his awesome wife Terry, and their three objectivist cats, Roark, Ragnar and Rearden. Kibbe is a fanatical DeadHead, drinker of craft beer and whisky, and collector of obscure books on Austrian economics.

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