A red, woven silk tie with thin gold stripes.
Adam Smith ties honor the great Scottish free-market economist who published The Wealth of Nations in 1776. Conservatives in the Reagan White House wore Adam Smith ties as a sign of the faithful. The tie is now the club tie of the conservative movement.
Dubbed by Time Magazine "the neck piece of conservative Washington," the Adam Smith tie's distinguished history goes back to 1968.
The ties first came to prominence as gifts to speakers at the Political Economy Club of the University of St. Andrews in Scotland. One speaker, Ralph Harris, now Lord Harris of High Cross, liked the tie so much he suggested the Institute of Economic Affairs in London market it.
The Leadership Institute is the sole producer and distributor of Adam Smith ties and products in the United States.