Maria Paganelli Speaks with Brazil’s Valor Econômico on Free Trade and Ad

Trinity University’s Maria Paganelli, Ph.D., professor of economics, told Brazil’s business newspaper Valor Econômico that Adam Smith’s “The Wealth of Nations” remains strikingly relevant 250 years after its publication, particularly in debates over globalization and trade. She emphasizes that Smith’s central insight was not simply about wealth accumulation, but about the institutional and moral conditions that allow societies to prosper—highlighting the importance of competition, open markets, and limits on monopolies and protectionism.

Paganelli also argues that Smith is often misunderstood in that the “invisible hand” was not a claim that markets always function perfectly, nor was Smith opposed to government altogether. Instead, she notes, he saw a role for the state in areas like justice, education, and infrastructure, offering a more balanced framework that still speaks to today’s economic policy challenges.

Note: Valor Econômico is a paywalled publication.