Panmure House Annual Review 2025

To close the month, four new episodes of The New Enlightenment podcast are released, featuring expert insights on climate finance, green industrial policy, global geopolitical shifts, and North America’s evolving trade landscape. Guests include Stacy Swann, Amir Lebdioui, Francesca Ghiretti and Roberto Duran-Fernandez.

Panmure House hosts the launch of Ending Destitution in Scotland: A Road Map for Policymakers, a report commissioned by Panmure House Fellow Professor Beth Watts-Cobbe and produced by I-SPHERE. The event features an expert panel discussing strategies for the Scottish Government and local councils to address rising destitution and homelessness.

March welcomes back Panmure House's annual Smith Supper. Building on the success of the first Smith Supper during Adam Smith’s Tercentenary year in 2023, this engagement and development event expanded on the legacy of the Scottish Enlightenment in London's Dr Samuel Johnson’s House, England’s ‘most distinguished man of letters’.

In April, Panmure House delivers its first Adam Smith Lecture of 2025. With an invited audience, Sir John Kay expands upon the theories in his latest book, The Corporation in the Twenty-First Century: Why (almost) Everything We are Told about Business is Wrong. The lecture is preceded by a roundtable lunch with members of the AEF department at the Edinburgh Business School.

April also plays host to Heriot-Watt University's AI and Robotics Youth Panel. This knowledge exchange event, co-designed with the 16–18-year-old cohort, gives them a taste of what it takes to design a public engagement event. The group put their facilitation skills to the test with a panel discussion with a group of researchers. A range of themes are explored related to AI, including misinformation, social media, the definition of AI, its future potential, and the limitations and ethical considerations surrounding it.

(photo credit Ben Glasgow)

Panmure House plays host to a key event during the Festival of Europe, a two-day programme themed The Future of European Democracy and supported by the European Movement in Scotland alongside numerous partner organisations. The session at Panmure House, chaired by Heriot-Watt alumni Sir Graham Watson, explored recent global developments and their implications for the UK’s role in Europe.

We are pleased to welcome Dr Mhairi Bowe and Dr Rachel Forshaw as Panmure House Fellows for 2025.

Now in its second year, the Fellowship supports research at critical intersections like Business and Society, Innovation and Enterprise, and Finance and Growth. Both Dr Bowe and Dr Forshaw are pursuing research initiatives that engage directly with societies most pressing challenges, from Scotland’s growing crisis in volunteering to health and dignity in the future of work. Their projects exemplify the ethos of the Fellowship: connecting academic rigour with real-world relevance.

Deputy First Minister and Cabinet Secretary for Economy and Gaelic, Kate Forbes MSP joins us in June for a keynote speech that underscored Scotland’s ambitions in research, enterprise, and sustainable investment. In her address, Forbes announces a £24 million investment in Kishorn Port, part of a broader £500 million strategy to strengthen offshore wind infrastructure. She emphasises the critical role of private capital in driving not only economic growth but also social value, echoing Adam Smith’s legacy of aligning prosperity with public good. The event highlights Panmure House as a strategic site for shaping Scotland’s economic narrative and fostering impactful partnerships between government, academia, and industry. 

Panmure House hosts Liberty in the Balance: Classical Liberal Perspectives on the Trump Era, a dynamic panel discussion featuring leading international thinkers including Helen Dale, Veronique de Rugy, and Dr Samuel Gregg. Moderated by Professor Adam Dixon and held in partnership with the Civitas Institute at the University of Texas at Austin, the event explores the global implications of Trump-era politics on liberty, markets, and the rule of law, critically examining nationalism, state intervention, and the enduring relevance of Adam Smith’s ideas.

The Adam Smith Lecture Series continues with a roundtable and public lecture featuring Professor Sheilagh Ogilvie, Chichele Professor of Economic History at Oxford. Ogilvie shares insights from her latest book Controlling Contagion, exploring how markets, states, and civil society have responded to epidemics from the Black Death to Covid. This event reinforces Panmure House’s commitment to advancing globally relevant economic research in the spirit of Adam Smith.

On 5 June, Adam Smith’s birthday, Panmure House hosts the Shaping Futures in Healthcare dinner, celebrating the Global Research Institute in Health and Care Technologies. The evening brings together policymakers, investors, and leading academics to discuss the future of health technologies and their societal impact.

Professor Adam Dixon's New Enlightenment Podcast continues, featuring expert discussions on finance, policy, and global affairs. Three new episodes are recorded with Professor Mark Pennington, Dr Jostein Hauge and Dr Bryan Cheang.

This August we showcase a bespoke and intimate programme including firm favourite and annual sell out panel debate The Butcher, The Brewer, The Baker & Merryn Somerset Webb. Panel guests included Richard Wilson, Anna McDonald, Alex Massie, Dominic Frisby and John Stepek.

We also deliver a bold new series of public discussions that brings the spirit of the Scottish Enlightenment into the 21st century and placing Panmure House at the heart of debate in Scotland - The Panmure House Debates.

These events explore the most pressing issues of our time through the lenses of Policy and Government, Economics, History, and Philosophy.

In partnership with Baillie Gifford, this programme reawakens the tradition of rigorous, respectful discourse that once filled these very rooms, where Smith and his contemporaries debated the great questions of their day, from American Independence to taxation and the future of science.

Starting with AI & Education, bringing together Professor Andrew Manches (Professor of Children at the University of Edinburgh), Dr Megan Crawford (Lecturer in Management & Strategy at Edinburgh Napier University, Business School) and moderator Professor Thusha Rajendran (Professor of Developmental Psychology, Heriot-Watt University and member of the Edinburgh Centre for Robotics).

Our second theme AI & The Workplace panel included Luke McKinney (Director of Consulting at Nile HQ) Dr Cailean Gallagher (Associate Lecturer at University of St Andrews Business School) and was moderated by Dr Luciana Blaha (Assistant Professor in Business Management and Intelligent Automation at Heriot-Watt University).

As part of their overseas module to Scotland, a delegation of 40 executive MBAs and organisers from the China Europe International Business School (CEIBS) visit Panmure House for an immersive experience in the legacy of Adam Smith. The visit includes a guided tour and lecture by Professor Adam Dixon titled Innovation in Thought – Adam Smith & Wealth of Nations. The session explores how Smith’s ideas continue to shape global economic thinking.

September brings the German Consulate Rheinland-Pfalz Delegation to Panmure House for a special reception hosting a high-level delegation from Rheinland-Pfalz, Scotland’s closest German partner region, during their three-day visit.

The event features an opening address by Clemens Hoch, Minister for Science and Health, followed by a panel with leading experts in AI and medical research, biotech development, and cancer research. The audience includes academics, government representatives, tech industry leaders, and media, reinforcing Panmure House’s role as a hub for international collaboration and knowledge exchange.

Our third Adam Smith Lecture of the year follows, with guest speaker Brendan McCord, Founder and Chair of the Cosmos Institute, entrepreneur and a key thinker at the intersection of AI and philosophy.

Drawing on his experience across both public and private sectors, including his work with the United States' defence and two successful AI startups, Brendan shares his vision for a future where AI and technology serve the common good.

Our largest community engagement activity: Doors Open Days returns across 27-28 September, welcoming over 800 visitors.

Panmure House offers public access to Adam Smith’s historic home. Guests explore the restored rooms where Smith completed The Wealth of Nations and view a first edition of the work.

For the first time ever, artefacts uncovered from the archaeological dig during its restoration are brought back to the House and on display for visitors to explore. These items offer a glimpse into life under this roof over the past 400 years. Complimenting the exhibition, audiences enjoy highlights from our Addyman Archaeology Lecture, linking perfectly to this year's festival theme Architectural Heritage: Windows to the Past, Doors to the Future.

This initiative reflects our commitment to Building Flourishing Communities by sharing heritage, fostering learning, and connecting people with the ideas that shaped modern society.

Panmure House stages the Panmure House Forum in association with NIESR, featuring Sir Keith Skeoch, Chair of QBE European Operations and former CEO of Standard Life Aberdeen. In his lecture, The State of the Economy: Reconnecting Risk, Capital and Labour to Revive UK Growth, Sir Keith explores strategies for sustainable economic recovery and long-term value creation. With over four decades of leadership in finance and policy, Sir Keith offers evidence-based insights on aligning capital markets with societal needs. 

The Committee of Scottish Chairs (CSC), the body overseeing governance across Scotland’s higher education institutions, convenes at Panmure House. Hosted by Heriot-Watt Principal and Vice-Chancellor Professor Richard A. Williams and University Secretary Ruth Moir. The day concludes with a networking dinner, strengthening collaboration and leadership within the university sector.

Panmure House celebrates the winner of the 2024 Panmure House Prize, Professor Kirk Doran of the University of Notre Dame. An expert in labour economics, innovation economics, and international migration, Professor Doran delivers a public lecture titled Beyond the Invisible Hand: Immaterial Inputs to Economic Growth, exploring how unexpected collaborations drive knowledge creation and innovation. His visit also includes an interactive session with Heriot-Watt staff and students, a private meeting with the Prize Judging Panel, and an informal lunch with colleagues from the School of Social Sciences.

Panmure House launches another new programme series, Panmure House Dialogues. With ambitions to tackle one of the most urgent global health challenges: antimicrobial resistance (AMR). In partnership with the British Society for Antimicrobial Chemotherapy (BSAC) and the AMR Action Fund, the session convenes leading experts from policy, pharmaceuticals, biotechnology, and finance to explore market-driven strategies for sustaining antimicrobial effectiveness and safeguarding public health.

Panmure House announces the winner of the 2025 Panmure House Prize, awarding the $75,000 annual research award to Professor Tima Bansal of Ivey Business School, Western University, Canada. A globally recognised scholar and advocate for embedding sustainability into business strategy, Professor Bansal’s research integrates systems thinking with design thinking to help organisations innovate while addressing environmental and social challenges. She will deliver a public lecture at Panmure House in 2026 as part of the prize programme.

Panmure House hosts a distinguished lecture delivered by Professor Jinghai Li, FRS, FREng, FIChemE, a world-renowned scientist and engineer. The event is hosted and chaired by Professor Raffaella Ocone OBE FRSE FREng, President of the Institution of Chemical Engineers, and Professor Richard A. Williams CBE FRSE FREng FTSE, Principal and Vice-Chancellor of Heriot-Watt University.

As 2026 approaches, we prepare to celebrate a historic milestone - the 250th anniversary of Adam Smith’s seminal work, An Inquiry into the Nature and Causes of the Wealth of Nations.