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Adam Smith : A Moral Philosopher and His Political Economy - G. Kennedy

Adam Smith

A Moral Philosopher and His Political Economy

Paperback Published: 10th July 2008
ISBN: 9780230277007
Number Of Pages: 224

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Western Europe, stagnant since the fall of Rome, showed signs of economic resurgence in the mid-18th century. Adam Smith was excited by the potential of this new era, and he was inspired to study the changes in Britain's evolving political institutions, the decline in the old verities of the church, the strengthening of the eternal verities of human sympathy, the ever-widening knowledge of his age, the momentous implications of the division of labour, the power of exchange, and faster growth through capital accumulation and an expanding labour force. This book presents the authentic Adam Smith and explores his underlying approach and radical thinking, aiming to re-establish his original intentions as articulated in his works and correspondence, which have been distorted by modern interpretations, assumptions and attributions. The book provides a crucial reminder of how relevant Adam Smith was in his own time, and how relevant he remains today in this era of globalisation.

Prefacep. x
Acknowledgementsp. xi
General Introduction: Why Adam Smith?p. 1
What is Wealth of Nations about?p. 2
Smith's history of Western Europep. 5
'sufficient proofs of his fitness'p. 7
Introductionp. 7
Adam Smith, Seniorp. 7
Margaret Douglas Smithp. 8
Adam Smith's educationp. 8
A professor is chosenp. 11
'in the first ages of society'p. 14
Introductionp. 14
Smith's common themep. 14
Smith's 'market model'p. 15
An exchange model?p. 17
Originsp. 18
Four ages of mankindp. 19
Smith's conjecturep. 20
'so weak and imperfect a creature as man'p. 25
Introductionp. 25
The looking-glassp. 26
The impartial spectatorp. 28
Harmonising influencesp. 30
Hobbesian nightmares?p. 34
'general principles of law and government'p. 39
Introductionp. 39
The interregnum and the fall of the Romep. 39
The decline of feudalismp. 44
Constitutional libertyp. 49
'a certain propensity in human nature'p. 52
Wealth creationp. 53
The division of labourp. 54
Extent of the marketp. 56
Exchangep. 59
Traded bargainsp. 61
Bargaining exchangesp. 64
'had the original state of things continued'p. 68
Introductionp. 68
Value in a primitive societyp. 69
Signs of muddlep. 71
Be clear about rude societyp. 75
Constancy of the subsistence theory of labourp. 77
Exchangeable value in improved societiesp. 79
'at last the age of commerce arises'p. 81
Introductionp. 81
Natural and market pricesp. 82
Wagesp. 83
Imperfect marketsp. 90
'setting to work industrious people'p. 96
Introductionp. 96
Accumulation of changesp. 96
Elements of commercial societyp. 97
Origins of capital stockp. 99
Forms of capital stockp. 102
Money as capitalp. 105
Malign consequences of self-interestp. 108
'increasing the fund for productive hands'p. 114
Introductionp. 114
Constituent elements of pure Smithian growthp. 116
Necessary conditions for growthp. 119
Productive and unproductive labourp. 120
'a very violent attack'p. 128
Introductionp. 128
Mercantile policiesp. 129
Restraints on importsp. 131
Extraordinary import restraintsp. 135
Mercantile political economy and coloniesp. 138
Chartered trading companiesp. 143
Colonial trade and capital distortionsp. 147
'an invisible hand'p. 150
Introductionp. 150
Smith on metaphorsp. 153
The object of the metaphorp. 154
The imperative of necessityp. 156
An unguarded conclusionp. 158
'peace, easy taxes, and justice'p. 163
Introductionp. 163
First duty of governmentp. 164
Second duty of governmentp. 166
Third duty of governmentp. 167
Education and healthp. 169
Public revenuesp. 172
Government failurep. 174
Public debtsp. 177
Adam Smith's Legacyp. 180
Introductionp. 180
The end of laissez-fairep. 180
What about the poor?p. 190
Afterwordp. 197
Bibliographyp. 199
Indexp. 210
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780230277007
ISBN-10: 0230277004
Series: Great Thinkers in Economics
Audience: General
Format: Paperback
Language: English
Number Of Pages: 224
Published: 10th July 2008
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 21.34 x 13.72  x 1.78
Weight (kg): 0.3
Edition Number: 2
Edition Type: New edition