In this episode of Merryn Talks Money, host Merryn Somerset Webb is joined live at the Edinburgh Festival Fringe by Bloomberg Opinion columnist Adrian Wooldridge, former British ambassador Nick Hopton and Orbis Investment Management Chairman Alec Cutler to ask what Adam Smith can teach us about today's rapidly changing economic order.

The panel considers rising government debt, the growing relationship between states and powerful companies, and whether the AI investment boom could follow the same pattern as previous market bubbles. They also discuss what it all means for investors, from the impact on gold and government bonds to the implications for energy stocks and, specifically for the UK, the future of the North Sea.