America’s heritage of liberty and prosperity owes much to innovators and entrepreneurs; those who imagined new products, processes, and organizations; who took risks; and who embraced the freedom to create and build. Historically, captains of industry have not only driven the growth of the economy, but they have also been among the foremost advocates of the free enterprise system, publicly expounding the broader societal benefits of the market economy. The future prosperity of our nation will depend on tomorrow’s business leaders’ ability to continue this tradition of promoting free markets. The Adam Smith Society works to provide a venue where this discussion of foundational ideas can be explored and applied to the current economic environment. We believe that MBA students should acquire more than just expertise in areas such as management, marketing, and quantitative analysis—as important as these skills are. They should also come to understand—and be able to defend—the nature of the economic system that fosters job creation, wealth generation, the alleviation of poverty globally, and scientific innovation.