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Comment by derrick_jensen | Hacker News Reader

To be fair, within the Constitution there is a clause where the Gold standard is required for all debts and tender (https://en.m.wikipedia.org/wiki/Contract_Clause), of which Thomas Jefferson wrote the majority. Even if he didn't say it himself, the sentiment was strong enough between all parties that it was included in the beginning.

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It's worth noting here that The Wealth of Nations was published in 1776.

Perhaps the people who drafted the US Constitution would have had a chance to read Smith by 1787, but I can't imagine they would have really had a chance to fully digest and internalize the ideas being presented. They were almost certainly working from a firmly mercantilist mindset.

Benjamin Franklin knew Smith personally, and was present at the drafting of the Constitution, so there is at most one degree of separation. I haven't actually read Wealth of Nations myself, but its worth noting that a lot of compromises had to be made on all sides to encourage states to actually join (IIRC the income tax was originally illegal because the initial wording implicitly said that slavery couldn't be taxed out of existence, and this was intentionally worded to encourage southern states to join).

It's more like they were familiar with the Theory of Moral Sentiments^. This work lays out the foundation of the Wealth of Nations and lays out an explanation of The Invisible Hand. From the Section 'Sixth Sense':

"Hutcheson had abandoned the psychological view of moral philosophy, claiming that motives were too fickle to be used as a basis for a philosophical system. Instead, he hypothesised a dedicated "sixth sense" to explain morality. This idea, to be taken up by David Hume (see Hume's A Treatise of Human Nature), claimed that man is pleased by utility. "

I think this is one of the first places to move away from a labor theory of value to a utility theory of value. I'm a dummy though so who knows.

Edit: Publication on or before 12 April 1759 should have had plenty of time to be read and discussed before the Contract Clause?*

^https://en.wikipedia.org/wiki/The_Theory_of_Moral_Sentiments

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