We must make the building of a free society once more an intellectual adventure, a deed of courage. —F.A. Hayek
Seventeen seventy-six was an auspicious year. The Bolshoi Opera began in 1776. Also in 1776, the Duchess of Kingston was found guilty of bigamy. For conspiracy theorists, 1776 was a very important year: The Illuminati was founded. For scholars, the first chapter of Phi Beta Kappa was formed at the College of William & Mary.
The year 1776 proved to be a mixed blessing for economists, however: On the dark side, Rhode Island established wage and price controls. On the bright side, a book was published entitled: An Inquiry into the Nature and Causes of the Wealth of Nations.