YOUNGSTOWN — James Hartley, professor of economics at Mount Holyoke College, will present “The Moral Economy: Revisiting the Ethics of Wealth Creation” for the 2025 Paul J. Thomas Lecture in Economics.

The lecture will take place at 6 p.m. tonight in the Williamson College of Business Administration Auditorium at Youngstown State University.

Since the time of Adam Smith, income and wealth have grown exponentially. Smith, an 18th-century Scottish philosopher and economist, is considered the founder of liberal economics. His work, “The Wealth of Nations” advocated for free trade and limited government interference in markets.

Despite the wealth generated by capitalism, there remains significant hostility toward the economic system that created it. Why is this the case? What is capitalism, and why has it both led to prosperity and sparked discontent? Hartley will explore these questions and discuss the moral arguments for and against the market economy.

Hartley is a former department chair at Mount Holyoke College and has expertise in macroeconomic theory, money and banking and economic growth.

Tomi Ovaska, professor of economics at YSU and the Paul J. Thomas Endowed Chair in Economics, will host the lecture.

The Paul J. Thomas Chair in Economics was established to honor the life of the Niles businessman. Thomas earned his bachelor’s degree from Yale and went on to study at Boston University and The Ohio State University. He began his career with Packer Thomas as a CPA in 1939 and later served in the Navy during World War II. After the war, he enjoyed a successful business career, holding leadership roles at Packer Thomas Certified Public Accountants, Superior Industries and Easco Corporation.

The series is free and open to the public. Free parking is available in the M30 Parking Deck on Wick Avenue. For more information, contact Ovaska at tpovaska@ysu.edu or 330-941-3084.