Freakonomics Radio

673. What Is Money?

58 min

This episode delves into composer David Lang's ambitious musical adaptation of Adam Smith's "The Wealth of Nations." Lang discusses his process of transforming the dense economic text into an emotionally resonant oratorio, focusing on themes like labor as a token of value and the societal definition of "enough." The conversation explores the intersection of classical music, economics, and human values, highlighting Lang's goal of making complex ideas accessible and emotionally resonant.

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✨ Key Takeaways

1

Composer David Lang created an oratorio based on Adam Smith's *The Wealth of Nations*, aiming to make the dense 18th-century text emotionally resonant and accessible through music.
2

Lang found the concept of *labor representing value* more provocative than the division of labor, making it a central theme for his composition.
3

The oratorio explores the subjective and often anxious question of "how much is enough" for individuals, particularly artists, and challenges Adam Smith's assumption of universal participation in the economic system.
4

Lang aims for his compositions to be democratic and widely accessible, drawing inspiration from communal experiences like football chants, rather than the stratified nature of traditional classical music.
5

The work incorporates diverse texts, including from socialist Eugene V. Debs, to provide a counterpoint to Smith's ideas and emphasize human values over purely economic ones, such as the idea that "gold is God today."

💬 Notable Quotes

"I think the Wealth of Nations is Adam Smith's idea about how everyone in the world gets along."

— David Lang
"Money is still so much more important than the flesh and blood of childhood. In very truth, gold is God today and rules with pitiless sway in the affairs of men."

— Eugene V. Debs
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."

— Adam Smith