Paul Atkins Misreads Adam Smith and the American Founding

SEC Chairman Paul Atkins claims the Declaration of Independence and Adam Smith's "Wealth of Nations" share the same philosophy of trusting individuals over institutions, but this argument is historically flawed—Jefferson acquired Smith's book years after drafting the Declaration and credited other sources for his ideas. Atkins uses this invented connection between the founding and Smith's free-market philosophy to justify deregulation and weakened financial oversight, while ignoring the founders' actual concerns about concentrated private economic power, particularly from wealthy factions that could threaten republican government.