Eamonn and the Monument
Eamonn led the project to erect the world’s first major public monument to Adam Smith, funded entirely by private donations. At the unveiling of the statue in Edinburgh on the 4th July 2008, he said:
“This honour is long overdue. As author of The Wealth of Nations (1776), Adam Smith was the pioneer of what today we call economics. He championed the benefits of specialization and free trade, creating the very idea of the modern market economy that dominates the free world today.”
The monument, which takes the form of a 10-foot bronze statue on a massive stone plinth, sits on Edinburgh’s Royal Mile – right in the heart of Scotland’s capital city, where Adam Smith worked and died. The statue was created by Alexander Stoddart, Scotland’s leading monumental sculptor, and was unveiled by Nobel Laureate Economist Professor Vernon L. Smith.
The statue’s position – in an ancient marketplace – could hardly be more appropriate. The monument is within view of the statue of Smith’s friend David Hume, looking downhill to the Canongate (where Smith lived and is buried), towards the harbour of Leith (with its connotations of trade and commerce), and over the sea to the county of Fife, where Smith was born.