| gen. |
the Adam Smith Institute; Adam Smith Institute (the, a British organization formed in 1977 to give economic advice to the British government, foreign governments and other groups. It was named after the 18th-century economist Adam Smith, and shared many of his ideas (e.g. about the importance of reducing the extent to which the state is involved in social and commercial affairs). It was associated particularly with the Conservative governments of the 1980s and 1990s in Britain. OALD. the Adam Smith Institute: a right-wing British organization that develops ideas about economics and gives advice to businesses and politicians. It has close connections with the British Conservative Party, and had great influence on its policies during the 1980s, especially the policy of privatization (=selling public services like electricity and railways, so that they become private companies). It is named after Adam Smith, an 18th-century Scottish writer on economics. LDOCE Alexander Demidov) |
