You don’t have to look very far to find people invoking Adam Smith’s name in U.S. political debate. These days, trade policy with China, the Green New Deal and even energy policy have all led people to rally around his purported legacy: the virtues of free markets, the harmful effects of government intervention in economic affairs. https://www.washingtonpost.com/politics/2019/04/22/how-chicago-school-changed-meaning-adam-smiths-invisible-hand/ At the same time, political theorists and historians like me have argued that the Scottish moral philosopher didn’t just stand for free markets and that, in fact, Smith’s invisible hand wasn’t a warning about state intervention but state capture. Rather unlike the caricature of Smith who espouses unchecked economic growth, they’ve also argued that Smith was deeply worried about the moral consequences of growing inequality. So how did Adam Smith become such a popular icon in the first place? And why did the “invisible hand” become such a powerful political catchphrase?
On any given day, there are nearly 443,000 children in foster care in the United States. In 2017, more than 690,000 children spent time in U.S. foster care. 73% of the cases of child maltreatment are due to neglect, and only 32.6% of adoptions from foster care occur within the first 2 years of a child being placed into the system. These children will become wards of the state, some go back to their homes, or they will age out of foster care at 18 and fight a brand new battle of living on their own with little to no resources. It is a truly scary world for children entering the world of foster care and legal systems.
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