Adam Smith A Moral Philosopher and His Political Economy

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ISBN: 9780230277007 | 0230277004
Cover: Paperback
Copyright: 10/15/2010

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Great Thinkers in Economics is designed to illuminate the economics of some of the greatest historical and contemporary economists by exploring the interactions between their lives and work, and the events surrounding them. The books are brief and written in a style that makes them of interest not only to professional economists, but also to students of economics and the interested lay person. Book jacket.

Preface	p. x
Acknowledgements	p. xi
General Introduction: Why Adam Smith?	p. 1
What is Wealth of Nations about?	p. 2
Smith's history of Western Europe	p. 5
'sufficient proofs of his fitness'	p. 7
Introduction	p. 7
Adam Smith, Senior	p. 7
Margaret Douglas Smith	p. 8
Adam Smith's education	p. 8
A professor is chosen	p. 11
'in the first ages of society'	p. 14
Introduction	p. 14
Smith's common theme	p. 14
Smith's 'market model'	p. 15
An exchange model?	p. 17
Origins	p. 18
Four ages of mankind	p. 19
Smith's conjecture	p. 20
'so weak and imperfect a creature as man'	p. 25
Introduction	p. 25
The looking-glass	p. 26
The impartial spectator	p. 28
Harmonising influences	p. 30
Hobbesian nightmares?	p. 34
'general principles of law and government'	p. 39
Introduction	p. 39
The interregnum and the fall of the Rome	p. 39
The decline of feudalism	p. 44
Constitutional liberty	p. 49
'a certain propensity in human nature'	p. 52
Wealth creation	p. 53
The division of labour	p. 54
Extent of the market	p. 56
Exchange	p. 59
Traded bargains	p. 61
Bargaining exchanges	p. 64
'had the original state of things continued'	p. 68
Introduction	p. 68
Value in a primitive society	p. 69
Signs of muddle	p. 71
Be clear about rude society	p. 75
Constancy of the subsistence theory of labour	p. 77
Exchangeable value in improved societies	p. 79
'at last the age of commerce arises'	p. 81
Introduction	p. 81
Natural and market prices	p. 82
Wages	p. 83
Imperfect markets	p. 90
'setting to work industrious people'	p. 96
Introduction	p. 96
Accumulation of changes	p. 96
Elements of commercial society	p. 97
Origins of capital stock	p. 99
Forms of capital stock	p. 102
Money as capital	p. 105
Malign consequences of self-interest	p. 108
'increasing the fund for productive hands'	p. 114
Introduction	p. 114
Constituent elements of pure Smithian growth	p. 116
Necessary conditions for growth	p. 119
Productive and unproductive labour	p. 120
'a very violent attack'	p. 128
Introduction	p. 128
Mercantile policies	p. 129
Restraints on imports	p. 131
Extraordinary import restraints	p. 135
Mercantile political economy and colonies	p. 138
Chartered trading companies	p. 143
Colonial trade and capital distortions	p. 147
'an invisible hand'	p. 150
Introduction	p. 150
Smith on metaphors	p. 153
The object of the metaphor	p. 154
The imperative of necessity	p. 156
An unguarded conclusion	p. 158
'peace, easy taxes, and justice'	p. 163
Introduction	p. 163
First duty of government	p. 164
Second duty of government	p. 166
Third duty of government	p. 167
Education and health	p. 169
Public revenues	p. 172
Government failure	p. 174
Public debts	p. 177
Adam Smith's Legacy	p. 180
Introduction	p. 180
The end of laissez-faire	p. 180
What about the poor?	p. 190
Afterword	p. 197
Bibliography	p. 199
Index	p. 210
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Adam Smith A Moral Philosopher and His Political Economy

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