Kirkcaldy turns out in numbers for Wealth of Nations 250th anniversary celebrations

Over 1, 100 people - local and from around the world - gathered at the Adam Smith Theatre in Kirkcaldy in an unforgettable weekend as the town celebrated the 250th anniversary of the publication of The Wealth of Nations by Adam Smith. 

The highlight was a compelling conversation hosted by Ed Balls and Stephanie Flanders, featuring Nobel laureates, such as Michael Spence and Chris Pissarides, and Andrew Bailey, Governor of the Bank of England. Together they explored the opportunities and challenges of the future of the economy.

That same day, the Future of the Economy Symposium opened with a panel of professors from prestigious universities and leading economists examining the drivers of sustained growth in a rapidly changing world. This was followed by interactive masterclasses with world-renowned economists, including Nobel laureates, offering attendees direct engagement with cutting-edge economic thinking.

From the premiere of a new animated short film to a lively rap dance tribute, the weekend blended serious intellectual debate with creative celebration.

Symposium and Tours

The day started with tours from the Adam Smith Centre with a considerable number of international visitors taking part. These tours help develop a background information to the life of Smith as well as help people walk the same streets that he would have walked throughout his life.

After morning tours, the attention shifted indoors to the main Symposium programme where around 130 registered guests filled the Beveridge Suite for the Future of the Economy Symposium. 

Chaired by Prof Roger Mullin, the opening panel brought together economists and academics including Prof Ronald McDonald and Prof Craig Smith from the University of Glasgow, Dr Jim Walker (Chief Economist at Aletheia Capital), and Prof Karen Turner, Director of the Centre for Energy Policy at the University of Strathclyde. 

The discussion explored key themes from The Wealth of Nations and their relevance to today’s rapidly changing world. It looks at the approaches emphasised by Adam Smith, a focus on innovation and specialisation with the intention of creating conditions that fosters prosperity. 

This was followed by interactive masterclasses featuring internationally acclaimed economists. Chaired by Dr Robbie Mochrie of The Library of Mistakes, the sessions included contributions from Nobel Laureate Prof Michael Spence, Prof Larry Kramer (Head of the London School of Economics), Prof Philippe Frouté (Université Paris-Est Créteil), and Prof Piotr Kardasz (University College of Professional Education, Poland).

The masterclasses gave attendees the chance to engage directly with leading thinkers, ask questions, and challenge ideas in a lively and interactive setting. 

Economists in Conversation 

Afterwards, Ed Balls who is a presenter on Good Morning Britain and Stephanie Flanders, an economist and journalist, hosted an engaging conversation with prominent economists, two of whom are Nobel laureate Prize winners.

The speakers raised an interesting prospect that due to the speed and nature of technological changes, the old perspectives of viewing the economy and society may no longer be feasible solutions.

They had different perspectives about the impact that technological changes like AI would have on society, with some perspectives focusing on the challenges but some also focusing on the opportunities. 

This conversation helped to set up the main conversation between the hosts and Andrew Bailey, the Governor of the Bank of England. In the discussion there was a focus on Bailey's career journey to become Governor and what the role entails. The conversation then explored many of the challenges that society faces today including prospective dangers and benefits of AI.

A Boy From Kirkcaldy

Premiering at the start of the event in the evening was the animated film by talented artist Daniel Mosley, A Boy From Kirkcaldy, which displayed the life of Adam Smith. The narrator of this animation was Tanaya Brady.

This engaging film framed the life of Adam Smith from a local angle, showing how a boy from Kirkcaldy changed how the world views the economy. By telling Smith's story from within his hometown, it builds genuine pride and a strong sense of ownership in our shared heritage. It humanises someone often defined by his ideas or by the perception of his ideas. 

Most importantly, it inspires the next generation of local thinkers, creators, and storytellers who may one day add their own chapter to this remarkable legacy.

The Closure

To close the event that evening youngsters from Kirkcaldy Actors Studio (KAS) took the night on a modern spin with a dance to a rap tune of ‘Adam Smith, the man, the myth’ in front of a full crowd.

The theatre hall was full on the night as well as some overspill in a neighbouring suite where the events were livestreamed to them.

A Weekend to Remember

The celebrations continued strongly over the weekend. Saturday brought another successful Heritage Tour in the morning followed by a packed evening at the Adam Smith Theatre. Sarah Brown interviewed actresses Elaine C Smith and Arabella Weir. 

The two stars shared funny and honest stories about their careers, the challenges they faced as women in showbusiness, and how they pushed forward. 

They also gave the audience a few exciting hints about the upcoming Two Doors Down stage show. The night was full of laughter and great audience questions.

The Festival of Ideas weekend concluded with The Evening of Enlightenment at the Adam Smith Heritage Centre, offering a peaceful and inspiring end to a remarkable programme of events. Guests enjoyed an intimate evening of classical music performed by Cromlit's Lilt String Ensemble, whose professional musicians brought the beauty of Baroque music to the Heritage Centre's gallery. The evening also featured moving poetry readings by local actor Tanay Brodie, creating a reflective atmosphere that celebrated creativity, culture, and the enduring power of ideas. It was a fitting conclusion to a weekend that brought together economics, history, music, literature, and community in celebration of the 250th anniversary of The Wealth of Nations.

Over the weekend, the events were attended by people who visited from the USA, Japan, Europe, and places across the breadth of the United Kingdom.  The Festival may have come to an end, but the story of Adam Smith goes on every day at the Adam Smith Heritage Centre. Whether you are visiting for the first time or returning to explore more of Kirkcaldy’s remarkable history, we look forward to welcoming you soon.