“Freedom” means the human capacity to choose among options, based on one’s own preferences and reasoning. It also stands for the political status to exercise such freedom on matters of conscience and to express opinions without interference from the state. Enlightenment thinkers also included the right to buy and sell property in an open market with minimal government interference. So is the justification for our free-enterprise system a practical matter – an effective way of organizing resources and the distribution of goods – or does it rest on deeper principles? John and Ken test their entrepreneurial spirit with Shannon Stimson from UC Berkeley, co-author of After Adam Smith: A Century of Transformation in Politics and Political Economy.